【Zheng Jiachun Family】 News: Served as CEO of Chow Tai Fook Enterprises for 14 years, Zeng Anyi stepped down, Zheng Zhi-liang and Ho Chi-hang jointly manage the billion-dollar empire

New World (00017) During the unresolved debt crisis, Hong Kong billionaire Zheng family’s family office Chow Tai Fook Enterprises has experienced management changes. Reports indicate that Patrick Zeng An-ye (曾安業), who has led overseas operations for Chow Tai Fook for about 14 years, has recently stepped down as Co-CEO, signaling the beginning of a “dual CEO” era for Chow Tai Fook Enterprises, with Christopher Zheng Zhi-liang, son of the “pure official,” and Chow Tai Fook’s founder Gilbert Ho Chi-hung working as co-CEOs.

Patrick Zeng An-ye is the son-in-law of New World founder Zheng Yu-tong and nephew-in-law of Zheng family’s daughter Sun Wing-yee. According to sources, Zeng An-ye stepped down as Co-CEO in early 2026 but remains a director of Chow Tai Fook Enterprises and holds directorships in several Zheng family-related and listed companies, including Cable TV (01097), Giordano (00709), Wan Bang Investment (00158), and United Medical (00722). Additionally, he is a director of Zheng Yu-tong Charitable Foundation, Chow Tai Fook Corporate Social Responsibility Program, and Chow Tai Fook Charitable Foundation.

Chow Tai Fook Enterprises’ Extensive Billion-Dollar Asset Portfolio

Chow Tai Fook Enterprises is the private investment holding flagship under the Zheng family’s Chow Tai Fook Group, founded in 1929, with assets totaling hundreds of billions. As a major family investor, Chow Tai Fook Enterprises’ global investments are broad, including: energy, infrastructure services, healthcare, insurance, education, and media; investments in hotels and large-scale real estate projects; private equity investments in high-growth technology companies; and a portfolio of stocks and bonds. Currently, Chow Tai Fook Enterprises and its subsidiaries and joint ventures operate across 27 countries worldwide.

Patrick Zeng An-ye has served as CEO of Chow Tai Fook Enterprises since 2012. Previously, he worked at Deutsche Bank Hong Kong as Managing Director, overseeing Asian fixed income capital markets.

The Family Dynasty’s “License Battle” Begins

In an interview with its subsidiary HOY TV in November 2023, Zheng family second-generation leader Zheng family pure revealed rare insights into succession planning and corporate governance. He mentioned that the successor is still under observation, and it’s not easy to find a suitable candidate, so there may not be an immediate need to appoint a successor.

The outside world views the billion-dollar empire as entering a “license battle”. In August 2024, Chow Tai Fook Enterprises announced a major management reshuffle, establishing an Office of the Chief Executive Officer, splitting the role of a single CEO into three Co-CEOs: besides the original CEO Patrick Zeng An-ye, Zheng Zhi-liang and Gilbert Ho Chi-hung joined. At that time, Chow Tai Fook stated that Patrick Zeng An-ye would focus on overseas operations, including the Americas, Europe, and Australia, while Zheng Zhi-liang would oversee North Asian operations, and Gilbert Ho would handle corporate operations.

Additionally, Patrick Zeng An-ye was involved with Giordano International, which previously faced regulatory issues. The Securities and Futures Commission (SFC) believed that during the acquisition of Giordano shares by the parent company Chow Tai Fook’s agent, Sino Wealth and Clear Prosper violated the Takeovers Code. Ultimately, the two parties reached a settlement, with Chow Tai Fook’s agent required to pay up to HKD 1.5 billion to affected independent shareholders. Sino Wealth and Clear Prosper did not admit any liability.

Financial Hot Topics

Is the role of gold as a safe haven failing? Are conflicts sparking concerns over interest rate hikes?