Chapter 758 Standard Chartered

First, salary + 2.8% of the store's profit;

"Wait a minute."

Tong Yaya interrupted and took out a pen and paper from her bag.

"Speak slowly, I'll take notes."

Xu Liang smiled and waved his hand.

"Don't bother, I'll write you a document when I get back. I'll just briefly mention it to you now."

Hearing her say that, Tong Yaya nodded and put away the pen and paper.

"Let's continue.

Second, salary + 0.4% of the store's profit + 3.1% of the apprentice's store's profit + 1.5% of the apprentice's store's profit.

It can be expected that most store managers will choose the second salary mechanism, because employees do not want to work for others for a lifetime, and everyone wants to be their own boss one day and have passive income.

Based on this motivation, store managers will actively work hard to cultivate talents and bring in apprentices.

Because as long as they bring out apprentices and new Walnut Tree branches are opened, he will have more income.

Everyone can do the math.

However, the opening of a new store is just the beginning. The most important thing is to ensure that the new store generates enough income.

So we also have to make certain changes in the equity of the new store.

For example, for each new store opened, the headquarters and the store manager jointly invest, the headquarters holds 70% of the equity, and the store manager of the chain store holds 20% of the equity.

When the new store manager brought by the old store manager can operate independently, the old store manager enjoys the benefits of the new store. 10% of the profit is distributed as dividends.

This equity distribution method can solve the problem of funds in store fission.

The new store manager will not give up opening a store because of funding problems. He only needs to think about how to run the store well.

In this mechanism, the store manager can obtain store shares and be responsible for the store's performance and the apprentice.

This is equivalent to starting a business for yourself. The better you do, the more you earn.

At that time, he will take the initiative to work overtime without us asking, and work hard to improve the store's performance. In order to make more money, he will also open more and more branches.

If he manages to open more than five branches, he can also be promoted to regional manager.

Any ambitious and talented person will work hard to change.

At that time, we only need to do a good job of supervision, financial management and logistics support, and Walnut's stores will expand rapidly, far better than the current inefficient chain store expansion model. "

"Dear, you are amazing!" Tong Yaya exclaimed sincerely.

Xu Liang smiled and said, "The core logic here is the 'partnership mechanism' of the financial industry, which turns store managers into entrepreneurial partners in Walnut, turning passivity into initiative.

Completely solve the problem of talent shortage in corporate expansion."

Tong Yaya nodded, "Should we conduct certain assessments on store managers? Unqualified store managers expanding stores will only cause more losses to the company."

"It seems that you have learned a lot during this period of time, and you can think about the problems keenly, instead of simply seeing the benefits.

Not bad."

Tong Yaya smiled and said, "It is worth my hard work in the correspondence course of PBC School of Economics and Management to receive such praise from you."

"Keep working hard, I'm waiting for you to make better results." Xu Liang said.

Tong Yaya nodded vigorously, "You haven't answered my question yet."

"It's actually very simple. You can hold a horse race among all the store managers under your company. Only the top three, or when the store's profit reaches a certain standard, are qualified to open a branch.

Also, all branches cannot make profits immediately at the beginning.

So there must be a 'loss mechanism'.

For example: the store manager is responsible for 30% of the losses in the first three years of operation, and the company bears 70% of the losses. If it is still losing money after 3 years, the headquarters will evaluate whether to close the store.

If the store manager doesn't want to work anymore, the company must also have an 'exit mechanism'.

For example: before the store makes a profit, the store manager cannot withdraw, otherwise the previous investment will not be returned. After the store makes a profit, it can choose to withdraw, and it can be divided into three phases over three years, gradually withdrawing shares, or the company can repurchase with 3 times the dividend.

Specifically, you can set standards according to the actual situation of Hutaoli after you go back."

Xu Liang picked up the bowl and chopsticks, "Okay, let's eat now, I'm hungry."

After dinner, it is natural to relax the mind and body in all aspects. After all, as the old saying goes, keep warm and think about that.

——

A black Mercedes-Benz S sedan slowly stopped in front of the Hanhua Center.

The door opened, and a tall middle-aged white man in a black suit walked down from it.

He looked up at the modern office building in front of him and walked in.

As soon as he came in, Lv Hui, who was wearing a light pink women's suit, high heels, and short hair, came to greet him.

"Mr. Humphrey, welcome to Huaxia."

"Ms. Lu, you are still as beautiful as ever."

"Thank you. Please follow me, the boss is waiting for you upstairs."

"Okay, please lead the way."

"Please."

Lv Hui took them to the VIP reception room by elevator.

"John, welcome, welcome."

John Humphrey looked at the young man walking towards him. It had been nearly two years since the last time they met.

For a company, two years is not too long.

But in two years, the other party's identity has undergone earth-shaking changes.

From a wealthy Chinese man with a certain degree of fame in the Internet industry, he has grown into one of the world's top financial giants, a world-class super-rich man, and a guest of honor for dignitaries from various countries.

The huge identity change is particularly shocking when seeing it in person.

John Humphrey took a breath and stepped forward with a smile.

The two briefly hugged each other, and after chatting for a while, they sat down on the sofa next to them.

"John, I have read Standard Chartered's 2004 financial report. You did a great job."

Standard Chartered Bank's pre-tax profit in 2004 increased by 39% to US$2.158 billion, and net income increased by 13% to US$5.367 billion.

Earnings per share were 125.9 cents, an increase of 40%, and return on equity rose to 20.1%.

At the same time, the bank's bad debts decreased by 60% to US$214 million.

Compared with the time of Xu Liang's acquisition, Standard Chartered Bank's market value has exceeded 15 billion US dollars, almost doubled.

However, Standard Chartered's performance growth is not all due to operating income, but more comes from mergers and acquisitions.

Especially the acquisition of South Korea's First Bank.

The First Bank of South Korea was once the largest commercial bank in South Korea. During the Asian Financial Crisis, South Korea experienced a massive flight of capital and faced the risk of sovereign debt default. The International Monetary Fund (IMF) provided a US$58 billion rescue plan.

But it’s not easy to get money from the United States.

It requires the South Korean government to sell two failed and nationalized banks, namely Korea First Bank and Seoul Bank, to foreign investors.

The IMF claims that the main reason for this request is that it hopes that foreign investors can introduce the advanced bank credit culture of Europe and the United States into the South Korean banking system and improve the level of bank operations.

But in fact, it is just taking advantage of the economic crisis to acquire South Korea's wealth.

Although the oppas were unwilling in their hearts, they couldn't resist their father's thick legs.

Finally agreed.

Therefore, Newbridge Investment from the United States obtained the First Bank of South Korea.

An investment agreement was signed in December 1999. Xinqiao and the South Korean government invested a total of approximately US$900 million. Xinqiao held 51% of the shares and the government held 49%.

In December 2004, due to competition from Standard Chartered and HSBC, Standard Chartered acquired all the shares of First Bank for US$3.3 billion.

After 5 years, Xinqiao Capital's return multiple was approximately 3.67 times, which is quite generous.

The merger of South Korea's First Bank directly increased Standard Chartered's total assets by US$45 billion and annual net revenue of nearly US$700 million.

In addition to South Korea's First Bank, Standard Chartered also acquired a 44.56% stake in Indonesia's tenth largest bank, Gem Bank, and Xiangjiang Essence Credit.

"Without your support, Standard Chartered would not be developing so fast."

John Humphrey's tone was respectful.

The Xu Liang now is no longer the Xu Liang two years ago.

Although his stake in Standard Chartered is still 36.7%, it has not increased.

But through the temptation of Hanhua hedge funds and private equity funds, he controlled seven of the eleven board seats of Standard Chartered.

Although the UK is like the US, the CEO is the boss within the company, but Xu Liang, who controls the board of directors, can replace him without hesitation.

Xu Liang, who directly controls the lifeblood of Standard Chartered, also indirectly controls the power of Standard Chartered.

"John, we are all on our own. When I help you, I am also helping myself, so you don't have to be polite. However, you flew here from the UK in such a hurry, so there must be something big going on, right?"

Humphrey nodded.

"Xu, do you know Huaxia Guangdong Development Bank?"

"Guangdong Development Bank?"

John took out a thick document and handed it over.

"you can take a look."

Xu Liang took it and looked at it carefully.

Guangdong Development Bank was established in 1988 as a joint-stock financial enterprise with a registered capital of 1.5 billion yuan.

There are 55 sponsoring shareholders, mostly from commercial banks, finance departments at all levels and large enterprise groups in the province.

Up to 90% of the cumulative loans issued by Guangdong Development Bank are used to support local economic construction.

Before 1995, Guangdong Development Bank had always implemented a multi-level legal person system. The head office had weak control over each branch. The city and county finance and professional banks had great power in local branches.

In some places, Guangdong Development Bank once played the role of "secondary finance".

In other words, there is no distinction between public and private matters in the management of Guangdong Development Bank.

Anyone can take money from it.

In 2001, Guangdong Development Bank's equity capital increased from 2.5 billion yuan to 3.5 billion yuan.

After the capital increase, Guangdong Development Bank's equity is still quite dispersed, with more than 900 shareholders, and every city in Guangdong Province also holds Guangdong Development Bank's shares.

Guangdong Development Bank's 2003 annual report shows that Guangdong Development Bank's top ten shareholders collectively hold 50.12% of its shares.

The top three largest shareholders are Qilu Lianda Group, Modou Shenhua Holding Industrial Co., Ltd. and Suzhou Iron and Steel Group Co., Ltd.

Guangdong Enterprise (Group) Co., Ltd., which is wholly owned by the Guangdong Provincial Government, is the fifth largest shareholder.

In October 1996, Guangdong Development Bank acquired the bankrupt Bank of China Trust from the central bank, and actually shouldered a debt of 4 billion yuan.

This move is considered to be the first of its kind for Chinese financial institutions to withdraw from the market after the founding of the People's Republic of China.

Guangdong Development Bank, which undertook the "experiment", gained the opportunity to expand from a regional bank to a national bank.