Frances Yung

Yung holds coterm Bachelor’s and Master’s degrees in Economics and Management Science & Engineering from Stanford University. She provided major support to help launch the Knight-Hennessy Scholars.^[3] She is a member of Chinese General Chamber of Commerce and Christie's Asia Advisory Board.^[4][5]

In October 2008, Yung and other two senior executives were involved in unauthorized foreign exchange deals in CITIC Pacific, which caused a HK$15.5 billion loss in the company. Yung was later called to testify about her conduct in the CITIC Pacific foreign exchange losses scandal.^[6][7][8] Yung was removed from the finance department and demoted with a salary cut.^[9] That year, Yung's ranking on the Chinese billionaires list dropped to 63rd in 2008, when the value of CITIC Pacific dropped 86% due to the scandal.^[10][11]

Yung’s first marriage, to Brian David Li Man-bun, ended in divorce, they have three children. She later married Hu Haifeng, the couple have two daughters.^[9] Her daughters debuted at the Queen Charlotte's Ball at Kensington Palace in London and took part in their paternal grandfather's tour of Russia.^[12]