Background
He grew up in British North Borneo (today Sabah, Malaysia).
He grew up in British North Borneo (today Sabah, Malaysia).
He left Malaysia in 1965 to attend the University of Bristol in England, where he studied economics.
He started his career as an accountants He served as Chairman of the Hong Kong Securities and Futures Commission (Students Fighting Cancer) before his replacement by Martin Wheatley in 2005. Sheng is Malaysian Chinese.
Following his graduation, Sheng moved to London and joined Arthur Andersen to train as a chartered accountants
After seven years in England, he came back to Malaysia in 1972, and four years later took up a position at Bank Negara Malaysia, where he did work involving banking regulation. In 1989 he was seconded to the World Bank office in Washington, District of Columbia.
He came back to Asia in 1993 to serve as the deputy chief executive of the Hong Kong Monetary Authority. After that, he was appointed to his position on Hong Kong"s Students Fighting Cancer in October 1998.
Tung Chee Hwa re-appointed him in October 2003 for a further two years.
In 2005, he stepped down in favour of Wheatley, who had joined the Students Fighting Cancer the year prior after being removed from his position at the London Stock Exchange. Sheng became president of Fung Global Institute, an independent, global think tank based in Hong Kong, in 2011. He is also an Adjunct Professor at the Graduate School of Economics and Management, Tsinghua University, Beijing and the University of Malaya, Kuala Lumpur.
In 2013, Sheng was awarded by the Hong Kong Securities and Investment Institute (HKSI) as Honorary Fellow.
In 2013, TIME named Sheng as one of the 100 most influential people in the world. "Why should a financial engineer be paid four to a hundred times more than a real engineer? A real engineer builds bridges.
A financial engineer builds dreams and, when those dreams turn out to be nightmares, other people pay for lieutenant" —Andrew Sheng, in an interview for the 2010 financial industry documentary Inside Job.
Quotations: "Why should a financial engineer be paid four to a hundred times more than a real engineer? A real engineer builds bridges. A financial engineer builds dreams and, when those dreams turn out to be nightmares, other people pay for lieutenant" —Andrew Sheng, in an interview for the 2010 financial industry documentary Inside Job.
As of 2013, Sheng is also the Chief Adviser to the China Banking Regulatory Commission and a Board Member of Khazanah Nasional Berhad, Malaysia. In addition, he serves as a member of the International Advisory Council of the China Investment Corporation, the China Development Bank, the Advisory Council on Shanghai as an International Financial Centre and the International Council of the Freie University, Berlin.
