William Wu
About William Wu
William Wu, 59, has served as an independent director of HWH since January 2022, bringing more than 28 years of experience across investment banking, capital markets, institutional broking and direct investment . He holds a BBA and MBA from Simon Fraser University (Canada) and earned the CFA charter in 1996; he is licensed in Hong Kong for Type 6 (corporate finance advice) and Type 9 (asset management) activities . The Board has determined Mr. Wu is independent under Nasdaq rules and Exchange Act Rule 10A-3 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Power Financial Group Limited | Executive Director & CEO | Nov 2017 – Jan 2019 | Led investment banking/capital markets activities; cross-border finance expertise |
| RHB Hong Kong Limited | Director & CEO | Apr 2011 – Oct 2017 | Oversaw corporate finance and asset management activities |
| SW Kingsway Capital Holdings Limited (Sunwah Kingsway) | CEO | Apr 2006 – Sep 2010 | Ran brokerage/investment operations |
External Roles
| Organization | Role | Tenure | Notes/Interlocks |
|---|---|---|---|
| Alset Inc. | Director | Since Nov 2020 | Interlock: Alset Inc. is HWH’s controlling stockholder; Mr. Wu’s board seat at Alset creates governance ties to HWH’s majority owner |
| JY Grandmark Holdings Limited | Independent Non-Executive Director | Since Nov 2019 | Hong Kong-focused real estate; adds cross-border governance perspective |
| DSS, Inc. | Director | Since Oct 2019 | Shared governance network with HWH directors (e.g., Chan Heng Fai chairs DSS); potential information flows |
| Asia Allied Infrastructure Holdings Limited | Director | Since Feb 2015 | Infrastructure sector experience |
Board Governance
- Committees: Member of the Audit Committee and Compensation Committee; Audit Committee composition includes William Wu, Wong Tat Keung, and Wong Shui Yeung, with Wong Tat Keung designated as the audit committee financial expert .
- Independence: Board determined Mr. Wu is independent under Nasdaq Rule 5605(a)(2) and Exchange Act Rule 10A‑3 .
- Meetings and attendance: Board met 2 times in FY 2023 and each director attended all board and committee meetings; Board met 3 times in FY 2024 (attendance by director not individually disclosed) .
- Audit Committee activity: Met 2 times in FY 2023 and 3 times in FY 2024; responsibilities include oversight of financial reporting, internal controls, and review/approval of related-party transactions .
- Compensation Committee activity: Met 0 times in FY 2023 and 1 time in FY 2024; oversees executive and director compensation and retains authority to engage compensation consultants .
| Governance Activity | FY 2023 | FY 2024 |
|---|---|---|
| Board meetings (#) | 2 | 3 |
| Audit Committee meetings (#) | 2 | 3 |
| Compensation Committee meetings (#) | 0 | 1 |
Fixed Compensation
| Item | FY 2023 | FY 2024 |
|---|---|---|
| One-time payment for FY2023 services ($) | $10,000 (paid April 2024) | — |
| Annual Directors’ Fee ($) | — | $10,000 (paid quarterly) |
| Total Director Compensation ($) | — | $10,000 |
Notes:
- No committee chair fees, meeting fees, or consulting fees are disclosed for directors .
- The Company has not adopted a stock awards plan as of the latest proxy .
Performance Compensation
| Metric | Target | Actual | Payout |
|---|---|---|---|
| Performance-based bonuses (director) | Not disclosed | Not disclosed | No performance-based pay disclosed |
| Equity awards (RSUs/PSUs/options) | None; no Stock Awards Plan adopted | None granted | None outstanding |
Other Directorships & Interlocks
| Entity | Relationship to HWH | Interlock/Conflict Note |
|---|---|---|
| Alset Inc. | Majority owner/controlling stockholder of HWH | Mr. Wu is a director at Alset Inc.; Alset Inc. and Alset International hold ~78.2% of HWH (as of Sept 22, 2025), creating a governance interlock and potential influence over HWH |
| Alset International Limited | Significant stockholder of HWH | Extensive related-party dealings with HWH; multiple HWH directors also serve at AIL (context for committee oversight) |
| DSS, Inc. | Shared directorships within HWH network | HWH Chairman Chan is a DSS director/chairman; Mr. Wu is also a DSS director, indicating board network ties (not necessarily transactional interlocks) |
Expertise & Qualifications
- Cross-border finance and investment banking background across Asia and international markets; licensed for Type 6 and Type 9 under Hong Kong SFO .
- Academic credentials: BBA and MBA (Simon Fraser University); CFA charterholder (1996) .
- Board-ready skills: institutional broking, capital markets, and direct investment; relevant to audit and compensation oversight .
Equity Ownership
| Metric | As of Oct 15, 2024 | As of Sept 22, 2025 |
|---|---|---|
| Shares owned (beneficial) | 0 | 0 |
| Ownership (%) | — (not disclosed) | 0.00% |
| Options/RSUs/Warrants outstanding | None; directors/officers did not hold options/warrants at table date |
Context:
- Shares outstanding: 22,257,838 (record date Oct 15, 2024) ; 6,476,400 (record date Sept 22, 2025) .
- Insider trading policy adopted March 18, 2025 ; Section 16(a) filings in compliance for FY 2024 .
Governance Assessment
- Strengths: Independent director with deep finance credentials; active on Audit and Compensation Committees; Audit Committee met regularly and oversees related-party transactions, disclosure controls and complaints procedures . 2023 attendance was 100% across board and committee meetings, evidencing engagement .
- Alignment: Director pay is modest ($10,000/year) and cash-only; no equity awards; Mr. Wu holds 0 HWH shares, indicating low direct ownership alignment despite governance responsibilities .
- Conflicts/Related-party exposure: Material governance interlock via Alset Inc., where Mr. Wu is a director and Alset is HWH’s controlling stockholder; HWH executed multiple related-party transactions with Alset entities (credit facility, debt conversions) and sold a subsidiary stake to Alset International—heightening conflict risk managed through Audit Committee review/recusal procedures .
- Additional RPT risk: Numerous financing transactions with Sharing Services Global Corporation (SHRG), a related party through overlapping leadership and stockholder ties; underscores importance of robust committee oversight .
Red Flags:
- Zero share ownership by Mr. Wu as of the latest record date (0.00%), limiting skin-in-the-game alignment .
- Extensive related-party transactions with controlling shareholder group (Alset Inc./Alset International) and SHRG; potential for perceived conflicts despite stated audit review processes .
- Compensation Committee met only once in FY 2024; may suggest limited cadence of pay oversight (though small company context) .