New CEO with a Plan to Raise Capital Funds for Endowment

VANCOUVER , Jan. 29 /CNW/ - S.U.C.C.E.S.S. Foundation welcomes its new CEO, Mr. Clarence Cheng , this Friday January 29th at S.U.C.C.E.S.S. Social Services Centre, Dr. Dorothy Lam Building , located at 28 West Pender Street, Vancouver , BC.

Tung Chan, who will retain his position as CEO for the S.U.C.C.E.S.S. group of organizations, welcomes the addition of Mr. Clarence Cheng to the executive team. "Clarence, with his vast and diverse background in the legal and wealth preservation field, will enhance our ability to build a long term financial sustainable platform to carry out our mandate of building bridges, harvest diversity and foster integration," says Tung.

Clarence has an interesting background before joining S.U.C.C.E.S.S. Foundation, including: a B.C. and Hong Kong Lawyer, a Fellow of the Chartered Institute of Arbitrators of the United Kingdom , a former delegate of the Province of British Columbia to the Governor General's Canadian Leadership Conference and a former Associate Counsel of one of the largest law firms in Canada . Clarence is an honors graduate in law with over 30 years experience in areas of corporate, commercial and business law and global wealth management as well as assets preservation planning.

"It is my honour to be the CEO of S.U.C.C.E.S.S. Foundation," says Clarence. "I am new to the position but not new to S.U.C.C.E.S.S."

Clarence is not only an expert in the field of law but is also a strong advocate for providing social services for new and established Canadians to assist in areas such as employment, health and housing, business, economic, community and social development. He is a life member of S.U.C.C.E.S.S. and has been a board member for both S.U.C.C.E.S.S. and S.U.C.C.E.S.S. Foundation.

"S.U.C.C.E.S.S. has diversified government funding sources but they are not going to last forever. As a social service organization, we do not want to stop providing services because of lack of funding. We need to establish long-term financial stability," says Maggie Ip , Chair, S.U.C.C.E.S.S. Foundation.

Clarence explains that he will develop one-year, three-year and five-year working plans to expand the operation of the endowment fund as these plans will be more easily measured and will lead to higher success rate.

The S.U.C.C.E.S.S. Foundation, incorporated in 2001, is a charitable foundation responsible for raising funds for S.U.C.C.E.S.S. and its affiliated organizations to support their mandates for the betterment of the community. For more details, please visit: www.successfoundation.ca

For further information: Tony Moy, Director, Resource Development, S.U.C.C.E.S.S. Foundation, Tel: [phone], E-mail: [email protected]; Eileen Lao, Manager, Public Affairs, S.U.C.C.E.S.S., Tel: [phone], E-mail: [email protected]