(Bloomberg) — Midea Group Co.’s former chief financial officer Jeremy Choy is joining product testing, inspection and certification firm UL as a senior dealmaker, according to a person with knowledge of the matter.
Choy will start in UL’s Hong Kong office and relocate to its headquarters in Northbrook, Illinois in the summer, said the person, who asked not to be identified as the information isn’t public. As senior vice president, chief strategy and corporate development officer, his responsibilities will include mergers & acquisitions, the person said.
The company provides testing, inspection and certification, training, advisory and risk management services, according to its website. It traces its history back to 1894, when the Underwriters Electrical Bureau began testing electrical products for fire safety. The organization was later restructured into the for-profit UL and the non-profit Underwriters Laboratory Inc. which houses research and standards and engagement units.
UL has employees based in more than 40 countries and customers from over 100 countries, the website showed. Its rivals include the U.K.’s Intertek Group Plc and Switzerland’s SGS SA. UL acquired South Korean medical and consumer device safety testing firm KBW Corp. in February for an undisclosed amount, according to a press release.
Choy resigned from Midea in January citing personal reasons, according to a company statement. The veteran dealmaker was previously HSBC Holdings Plc’s head of technology mergers and acquisitions in Asia before joining the appliance maker last year.
A representative for UL didn’t immediately respond to a request for comment.
(Updates with KBW acquisition in fourth paragraph.)
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
