Developing the next generation of leaders is part of J.P. Morgan’s commitment to the communities we serve. Recently, the Private Bank partnered with Tsinghua University on two programs designed with this goal in mind.
For the first program, our specialists together with MBA students from the School of Economics and Management have joined forces for two consecutive years on a project aimed at identifying emerging technology firms in China with distinctive offerings that are likely to disrupt the market. With technology impacting nearly every aspect of our lives, the project centers on researching companies in growth areas such as gaming, entertainment-tech, health-tech, med-tech, cloud computing, AI and fin-tech.
“The teams developed systematic scanning methods and leveraged their networks to gain a deep understanding of the technical and commercial trends in each segment, as well as identified emerging and growth-stage firms that are positioned to exploit those trends,” said Steven White, Associate Professor and Vice Academic Director of Tsinghua School of Economics and Management. “Working with J.P. Morgan’s staff to guide the students was a great experience.”
With our specialists serving as mentors to the students, the aim of this program was to promote a two-way exchange of ideas and skills. Grace Lin, Head of J.P. Morgan Private Bank in China, noted, “It has been an honor to work with the talented students from Tsinghua University. They brought fresh thinking to the problems posed and delivered detailed final reports that were a testament to the effort they put into their projects.”
The second program, a classroom partnership with the Tsinghua YES Program, moved away from technology to concentrate instead on family succession, with the aim of preparing the next generation of Chinese business leaders.
“Many of the students we meet，when interviewed have different thoughts on this subject. Some want to build their own companies, but bearing their family responsibilities, they feel conflicted. For many of them who studied abroad, applying the commercial concepts they learned in China can be challenging,” said Dr. Wei Qiang, Associate Professor, Department of Management Science and Engineering, and Lead Professor for the Tsinghua YES Program.
Moreover, the Tsinghua YES Program focuses specifically on addressing these challenges. The program provides a learning platform supported by a diversified teaching approach and three-dimensional knowledge architecture. It is designed to help the next generation of business successors understand the commercial landscape of China and to fast-track their development.
During a fireside chat with Grace Lin, Felicia Law and David Han from J.P. Morgan, YES students brought up some interesting topics related to succession, including the role of the next generation in a family foundation, setting up a family office, marriage and succession planning as well as technological disruption to family operations. In response, the speakers addressed these matters from the perspectives of both the founders and successors, highlighting key areas in which the two generations may have diverging views.
“[Succession] is a very personal topic. We hope to bring out key themes based on our previous experience of helping our clients in the field of family succession to help inspire YES students,” stated Grace Lin.
Furthermore, family succession will continue to be an important and relevant topic for the next generation of business leaders in China. As Felicia Law observed, “Ultra-wealthy clients are not only concerned about the management of their wealth. For many, the most important topic is family succession—how to build a suitable structure and manage that structure appropriately—such that the management of the business can be transitioned to the next generation.”
Building awareness and developing the skills of emerging leaders is ever more important with increasing globalization and the complexity that it inevitably brings. It has been an exceptional and mutually beneficial experience working with Tsinghua University to help prepare China’s future leaders for their journey ahead and we look forward to future collaboration.