Victor Li Shares Hong Kong’s Image Problem
Overseas regulators are more inclined to treat CK Group like a Chinese company as the city’s autonomy erodes.
The world's protectionist tilt is a challenge for Victor Li.
Photographer: Justin Chin/BloombergThe slow death of the conglomerate has been a theme in the developed world, exemplified this year by the decline of General Electric Co. to a shadow of its former self. By contrast, Asia’s sprawling family-controlled groups have continued to thrive. That’s not to say they’re free of challenges.
Victor Li, 54, sits atop a global empire spanning telecom, ports, real estate, retail and energy that was built by his father, the legendary Hong Kong billionaire Li Ka-shing. Seven months after taking over from CK Group’s 90-year-old founder, the younger Li must confront a more protectionist landscape that poses a threat to its strategy of diversifying away from its home city and China.