Marina Lui believes a strong team brings success, and that companies need to create an atmosphere that will attract and retain those solid performers.
As one of the early immigrants to Hong Kong from China, Lui says she appreciated the opportunity to receive the education that she did, both in Hong Kong and then attending the University of Texas at Austin in the United States.
She began her career as a branch manager in consumer banking, but wasn’t sure she was cut out for managing – ironic, given her current success in that arena. She joined UBS in 1995 as a client-facing relationship manager, spending 10 years covering the Hong Kong domestic market, and then once again moving into managerial positions.
At the time, the Hong Kong domestic market was quite established so she appreciated the opportunity she was given in 2011 when she was appointed as one of the team heads serving ultra-high worth clients in China and Taiwan. That allowed her to work in a sophisticated new market with a team of 50 experienced staff.
Soon she honed her focus solely on China, where she became regional market manager for the China International Team with a staff of 150. “I was very proud of being named regional market manager and subsequently building the team. In less than two years we have doubled the size of the business.”
Winning Because of the Team
Lui credits her team with that feat, but much of the acknowledgement surely should be given to her leadership style. “I want to be the team of choice and feel I have achieved that goal with the high morale we have. I want my team to be proud of what they do, and know that they have collectively contributed to our accomplishments,” she says.
Not only is she focused on success, but on developing the next generation of leaders. She admits it’s challenging sometimes when you can’t see quick results since talent development is a long process. However, she enjoys the role she plays in nurturing employees to help support the success of the firm.
Changing Demographics Mean A Changing Industry
The industry is currently in the midst of wealth transfer from one generation to another, and they need to accommodate the different way that the next generation thinks. Since many of her relationship managers are relatively young, they are in a position to relate to, and therefore confidently meet, the needs of this next generation.
And the changing demographics brings internal challenges as well, as companies grapple with providing employees with the diverse experiences they increasingly seek. “We have to question whether employees who are in their late 20s will want to work for the bank for 20 years, given their mindset that they don’t want to be in one place too long.” She says that they are addressing that through encouraging millennial employees to seek additional opportunities in other divisions of the bank, so they can have those varied experiences without leaving.
Growing the Next Generation of Leaders
Younger employees today also have the benefit of being able to research an industry before they join, and she encourages them to do their homework, to find out what exactly a banking position entails and confirm that it suits their interests and skills. But, it also has to be something they enjoy.
“When you join an industry or company, you have to be passionate or you won’t last long,” she says. She advises them to trust their gut feeling when determining a career path, but then to realize that success may be delayed. “The younger generation tends to want immediate gratification but often you have to be patient as you climb the ladder. Learn what you need to know on each rung.”
She encourages wealth management as an industry where women can be particularly successful, because it’s a people business, and women naturally exhibit interpersonal skills that allow them to excel at networking and building relationships with clients.
Within UBS, Lui is involved in the Global Key Talent Program, which helps develop high-performing talent. The group brings together emerging professionals and senior leaders to encourage mentoring and exposure. “It’s important to offer this opportunity for younger professionals to engage with senior leadership, both men and women, and show their capabilities.”
She also is involved with a group called “Half the Sky” that helps the bank better understand the needs of female clients who are becoming a larger part of their portfolio, as entrepreneurs and decision makers.
Work/Life Balance as an Imperative
Lui counsels her peers that it’s important to leave your stress at work and develop a healthy work/life balance that allows you to perform and focus better on the job. For her, exercise is a stress reliever, but she encourages women to find what works for them.
She loves traveling and spending time with her family but also believes in the importance of giving back through philanthropy. Two causes she is particularly passionate about are elder care and children. Recently she instigated a team project where they visited the elderly. “We need them to know they are important and not forgotten.” On the other end of the spectrum, she is involved with the group “Pencil of Promise,” which is working to build schools in Laos.
“I know that I am fortunate to work in the banking industry and make a good living compared to many families who struggle on a daily basis. We all need to make giving a part of our lives, to remember to reach out and support those in need. “