Cathay Bank Chairman Quits After Governance Dispute, Family Feud

Cathay United Bank Co. Chairman Kuo Ming-jian stepped down after a governance scandal involving a regulatory breach at the bank's asset management arm, exacerbated by his external roles. The situation reached a boiling point when he had a physical altercation with a member of Taiwan’s influential Tsai family. This resignation highlights the challenges banks face in managing internal governance and external affiliations, which can lead to significant reputational and regulatory risks. The incident underscores the importance of strict internal controls and the potential fallout from family-run businesses clashing with corporate governance norms.