ascend canada annual report 2013 1 singh, senior vice president, td michael ma , vice president, rbc...

ASCEND CANADA ANNUAL REPORT 2013 1

2 ASCEND CANADA ANNUAL REPORT 2013 ASCEND CANADA ANNUAL REPORT 2013 3

Table of Contents

President’s Message 4

Mission, Objectives & Accomplishments 5

Events & Programs 6

My Aspirations – Think Big & Achieve Career Success 10

Our Members 13

Our Volunteers 14

Our Sponsors 16

Financial Summary 20

Governance & Management 22

President’s Message

Think Big

Our underlying goal at Ascend this year was to get everyone to “Think Big”.

This theme was evident in our many guest speakers and executive mentors that we brought in, including Rahim Hirji, Executive Vice President and Chief Risk Officer of Manulife Financial Corporation. Rahim spoke at our 2013 Fall Conference and told an audience of over 400 Pan-Asian professionals about how he had gone outside his comfort zone and taken some risks in his career to emerge as a leader – of his company’s risk mandate, fittingly enough. This year’s annual report features an assortment of powerful stories from our members who also decided to “Think Big” and take risks when it came to taking the next step in their careers. When reading these stories, you’ll find that there’s no single path or absolute formula to achieve career success. However, the one constant factor that unites them all is ambition – the mindset to aspire for more and set higher personal expectations. This is the heart of what Ascend is about, as we continue to encourage members and work with our business partners to develop more Pan-Asian corporate leaders in Canada.

Set goals

This is typically the time of year when many of us set goals and benchmarks. As such, now is the perfect opportunity to not just think of what you’d like to accomplish in your career, but also have an idea of what you need to do to get there. You might even be surprised to find out that your path to success might take a different route than you envisioned. In my own career, for instance, I wasn’t sure if taking the Chief Accountant role at TD earlier in my career was the right move. I took the advice of my mentors and colleagues and acccepted the challenge. Looking back, I am now glad I made that decision because I was able to gain a lot of valuable skills, such as working with the Board and Senior Executives as well as dealing with complex issues and getting the opportunity to solve problems that are bank-wide. The point is, whatever path you choose, it all starts with “Thinking Big”.

Ascend to new heights

We also continued to “Think Big” when it came to growing Ascend and expanding the organization across the country in 2013. The launch of our Vancouver chapter was a proud

achievement that could not have been accomplished without a strong and talented management team that was well in tune with the city’s market. This year, we also introduced more events and programs to our members, which has grown to over 1700 Pan-Asian professionals. For example, the popular Mentorship Event featured over 150 professionals from 20 firms and a mentor line-up of over 30 leading executives from various backgrounds and industries. Thanks in part to these high profile activities, Ascend was featured in a 10 page spread in the popular Diversity Magazine, Amoi, and I was given the opportunity to be interviewed by Ming Pao, a Chinese language newspaper. I was also in L.A. to accept the PhD Award for Passion, High Energy and Dedication from Ascend U.S., thanks in large part to the tireless energy and work commitment of the Ascend Canada Board of Directors, Officers, Volunteers, and Sponsors. Ascend Canada has been the fastest growing Ascend chapter and this award is a great testament to our success!

Partner with Pan-Asians and beyond

Ascend’s goals for 2014 are big! We aim to continue to expand across Canada with new chapters and members. Our membership has grown exponentially since our launch in 2012, but we understand that our ability to take Ascend to the next level lies in our reach outside of the Pan-Asian business community. One of our key goals in the years ahead is to develop programs with more corporate partners of all backgrounds. The value of diversity in the workplace is in thought and business strategy, not merely appearance. As such, Ascend will be connecting with members, corporate partners, and executive leaders so that we can all work together to eliminate the barriers that are preventing us from achieving our full potential. It is no small feat but it doesn’t hurt to “Think Big”.

Thank you,

KELVIN TRANPresident and

Chairman of the Board, Ascend Canada

Senior Vice President, Finance and Chief

Finanical Officer, TD Securities,

TD Bank Group


Our Mission:• To become the premier national non-profit Pan-Asian membership organization for business professionals in Canada

• To enhance the visibility of current and future Pan-Asian business leaders

• To develop the full potential of members by leveraging Ascend networks through mentoring and leadership programs

• To create awareness and eminence for our corporate partners while helping them to achieve their business, talent and diversity goals

Our Objectives:• Focused strategy to provide programs and events to help our membership base develop and realize their full potential

• Cultivate the business, leadership and professional growth of members

• Strengthen our corporate ties through our planned programs, business growth opportunities and thought leadership

• Bridge the “Cultural Difference” gap between the Pan-Asian workforce and mainstream corporate Canada

• Leverage Pan-Asians as corporate Canada’s global asset

• Provide deeper connections with and give back to the Pan-Asian community

Our 2013 Goals and Accomplishments:Launch of the Ascend Canada Vancouver Chapter:• Official Launch on November 7th with close to 200 professionals in attendance and 150 new members

Continually grow our member and sponsor base:• 59,000 unique hits to the Ascend Canada Website

• 850 new members across Ascend Canada

• 3 new Sponsors for 2014

Offer Members Value Added Events and Programs:• 9 Events held throughout the year with over 900 engaged members in attendance

• Members were highly satisfied with events with an 85% satisfactory rate

Strong and Committed Volunteer Base:• 97% retention rate of Volunteers

• Over 160 Volunteers committed to the management of Ascend Canada

& Events Programs

2013 MentorsAgnes Mak, Partner, KPMGAlec Morley, Senior Vice President, TDAwi Sinha, Partner, McCarthy TétraultBabar Chaudhry, Director, RBCBaskaran Rajamani, Partner, DeloitteDaniel Shum, Partner, DeloitteDavid Kuo, Head of Branch Network, HSBCGenevieve Leong, Partner, KPMGKainaz Ladha, Area Manager, HSBCKay Song, Assistant Vice President, ManulifeKiran Khun-Khun, Partner, DeloitteKishan Dial, Partner, PwCKwan Song, Partner, EYLeila Rafi, Partner, McCarthy TétraultLeslie Quinlan, Senior Vice President, TDLily Chan-Sing, Vice President, RBCLing Kwan, Assistant Vice President, ManulifeManjit Singh, Senior Vice President, TDMichael Ma , Vice President, RBCPriyal Thakrar, Vice President, Manulife

Rahoul Chowdry, Partner, PwCRaneet Aggarwal, Vice President, Manulife

Rani Turna, Partner, PwCRatan Ralliaram, Partner, Deloitte

Raymond Chun, Senior Vice President, TDRobin Li, Senior Vice President, Manulife

Sanjil Shah, Alumni, KPMGSaqib Nazir, Vice President, RBC

Shahina Rahim, Associate Partner, EYSivan Ilangko, Senior Manager, EY

Sohana Inderlal, Partner, EYSteve Lee, Partner, EY

Thomas Lee, Partner, KPMGTzen-Yi Goh, Partner, McCarthy Tétrault

Vivian Chen, Partner, KPMGXihao Hu, Senior Vice President, TD

Zainab Walji, Partner, PwC

Participants at the Mentorship Event engage in round table discussions with Mentors

The Year In ReviewAscend Canada’s 2013 events and programs continued to grow bigger in terms of turnout, scope and impact. Our events are focused on members’ career gowth and providing members with networking opportunity.

Facilitating Members’ Career Growth

Mentorship Event (April 2013)

Following the successful inaugural Mentorship Event last year, Ascend was proud to present the highly anticipated event for a second year. The sold out event was attended by over 150 professionals from 20 financial and professional firms.

Kelvin Tran, President and Chairman of the Board, Ascend Canada, along with over 30 mentors from Canada’s leading financial institutions and professional firms, shared their years of experience and advice to enthusiastic participants. Participants engaged in round table discussions led by the mentors on this year’s topic “Mentorship and Sponsorship Relations.”

Special thanks to the Ascend Canada Mentors for taking the time to share their invaluable experiences and to inspire the next generation of Canadian Pan-Asian leaders.

Kelvin Tran, President and Chairman of the Board, Ascend Canada, delivered opening remarks to kickoff the second annual Mentorship Event

ASCEND CANADA ANNUAL REPORT 2013 5


Executive Insight Series (May 2013)

Participants were challenged to engage their minds, speak up, and share their points of view. The three presenters, also the original creators of the modules, Buck Gee, Larry Chang and Wesley Hom, were engaging, forthright, and genuinely cared about passing on their wisdom. The presenters and participants had lively debates and discussed topics key to aspiring leaders. EIS 1 covered “Myths of Asian Leadership” and “Making Politics work through Power & Influence”, and EIS 2 covered “Building Your Personal Brand” and “Managing Up”.

Annual Fall Conference (September 2013)

Ascend Canada’s 2013 Fall Conference was held at the Fairmont Royal York Hotel. The theme of this year’s conference was “Think Big and Achieve Career Success”.

The first half of the evening was dedicated to hearing from our keynote speaker as well as a lively panel discussion with senior executives who shared their career stories with the 400 members in attendance, reflected on their personal experiences, and provided advice on “Thinking Big”. The second portion of the evening provided an opportunity for members and participants to mix and mingle with other professionals at the sold-out event.

Developing Members Soft Skills

Effective Business Writing (January 2013)

As part of the Breakfast Series, the Effective Business Writing session was an overwhelming success with over 60 participants. The workshop focused on three topics: how communications impact your personal brand; how to structure your communications; and common pitfalls and barriers to effective communication. At the end, Kelvin Tran, President and Chairman of the Board, Ascend Canada, shared with the group his personal stories on how he has learned to become a more effective communicator. Each participant walked away with a greater appreciation for the written word, and tactics that can be implemented immediately to help take their careers to the next level.

The Executive Insight Series is offered to a small group of participants to allow for meaningful interaction and discussions

Keynote speaker at the Fall Conference, Rahim Hirji, Executive Vice President and Chief Risk Officer, Manulife Financial Corporation, talked about his aspirations and how he achieved his career success

A dynamic panel at the Fall Conference (form left to right) Kristy Carscallen, Chief Human Resource Officer, KPMG; Preet Dhindsa, Executive Vice President, CAO and CFO, Ontario Lottery and Gaming Corporation; Jeannine Pereira, Diversity, Inclusiveness and Human Equity Leader, EY ; Staci Trackey Meagher, VP Enterprise Business, Microsoft and Vijay Parmar, President, RBC PH&N Investment Counsel shared their inspiring career stories with distinguished leaders

Communication Skills - Talk so People Listen (July 2013)

The Ascend Canada communication skills workshop “Talk So Others Will Listen” was led by Bina Feldman, Principal, Bina Feldman Consulting Inc., a corporate training consultant and performance coach. The two-hour workshop focused on how to communicate assertively, and not aggressively - an important trait of leadership.

Negotiation Skills Workshop (June 2013)

The workshop was led by top lawyers Alethea Au, Amy Hu, and partner Wesley Ng from Stikeman Elliott LPP. The workshop explored fundamentals of negotiation and provided practical ways to approach different types of personal and business negotiations. The presenters engaged the audience with focused questions and live role-play negotiations. Following the formal presentation, there was an opportunity to network with the participants and the presenters.

Workplace Conflict Workshop (November 2013)

The interactive workshop hosted guest speaker Rick Russell, civil litigation lawyer and professional mediator, who spoke on the topic of conflict resolution. The workshop included case studies, group discussions and illustrations. According to members feedback, the takeaways from the workshop are

applicable in helping resolve conflict not only in the workplace but in any setting.

Providing Networking Opportunities

Ascend Golf Day 2013 (June 2013)

A fun day for Ascend’s golf regulars and novices alike!The second annual Ascend Golf Tournament & Clinic was held at the beautiful Angus Glen Golf Club in Markham, Ontario. Teams competed in a nine-hole golf tournament. Novices participated in a golf clinic hosted by golf professionals. The afternoon’s activities were followed by a BBQ. Members had the opportunity to network and catch up.

Launch of Vancouver Chapter

Open House (April 2013)

Ascend Canada welcomed existing sponsor firms at an Open House event in preparation for the official launch of the Vancouver Chapter. Approximately 100 guests attended this event at Terminal City Club, which included representatives from 17 member firms and potential new sponsor firms.

Manish Bharadwaj, President, Vancouver Chapter, started the evening with opening remarks to welcome guests and to provide an overview of Ascend Canada. Keynote speaker, Chitwant Kohli, Director, Ascend Canada, and Senior Vice President, Enterprise Operations and Payments, Royal Bank of Canada, provided an insightful presentation on the value Ascend brings to corporate Canada in elevating Pan-Asian leadership. The formal part of the program ended with an

Participants eager to learn more about negotiation skills at the workshop.

Members having fun at the second annual Ascend Golf Day.

Members getting valuable advice on written communication at the Effective Business Writing workshop


engaging and candid panel discussion focused on personal stories on workplace diversity and opportunities and challenges for Pan-Asian leadership.

The discussion was moderated by Silvia Livingston, District Vice President, Pacific Branch Banking, TD Bank Group. The panelists included Fiona Macfarlane, Managing Partner in BC and Chief Inclusiveness Officer, EY; Elizabeth Vogt, Partner and Chief Diversity and Engagement Officer, McCarthy Tétrault; Inde Sumal, Regional Vice President, Royal Bank of Canada and Alex Chiang, District Vice President, Pacific Branch Banking, TD Bank Group. The evening wrapped up with an informal networking reception.

Official Launch of Vancouver Chapter (November 2013)

Ascend Canada Vancouver Chapter was launched on November 7, 2013 at The Rosewood Hotel Georgia in Vancouver. Close to 200 professionals representing all of the sponsor firms and invited guests attended the event. Opening remarks were provided by Kelvin Tran, President, and Chairman of the Board, Ascend Canada and Senior Vice President, Finance, TD Bank Group; Jeff Chin, President, Ascend USA and Manish Bharadwaj, President, Vancouver Chapter and Partner, Deloitte.

The Vancouver Chapter has exciting programs and events planned for 2014 including a social networking cruise, breakfast series events, mentoring program and an Executive Insights Series module.

A candid and lively fireside chat between Janice Fukakusa, Chief Administration Officer and Chief Financial Officer, Royal Bank of Canada and award winning journalist and Anchor of CBC News Network’s Primetime Coverage, Ian Hannomansing provided insights on topics of diversity including women in leadership, ethnicity and stereotypes

Lively networking at the official launch of the Vancouver Chapter.

Mingling with CBC Anchor, Ian Hannomansing, at Vancouver Chapter launch

Outlook for 2014

Our goal is to continue to deliver impactful events to our members to allow them to connect, be inspired and to ascend. A sneak preview into what to look out for in 2014:

• Ascend’s Inaugural Gala where we will celebrate the success of 2013 and recognize Pan-Asian leaders in our community

• Power Skills Series to allow our members to further develop their power skills to connect through network, and ascend through business etiquette and negotiation skills

• Knowledge Series covering topics such as career counseling and current topics in retaining talent, inclusion and diversity

• Mentorship Series that will reach all levels of our members

• Executive Insight Series (EIS) that will prepare high-potential Pan-Asian managers and young executives for high-impact roles, also look out for EIS for Women

My Aspirations Think Big & Achieve Career Success

Fahad Tariq Senior Staff Accountant, EY

September 24, 2020, 8:30am. Toronto, Canada. Our diverse

management team is gathered in the 18th floor boardroom

that overlooks Toronto Island on this sunny day. Scribbling

on my notepad, I’m preparing to announce how our asset

management firm - which I launched only five years ago - has

grown to manage assets of $100 million in North America,

all the while remaining committed to our guiding principle of

ethical investing. I could not be prouder of our achievement

and I desperately want to convey this feeling to everyone

gathered in the room.

This imagined future represents my career aspiration – to

leverage my education, skills, network, and professional

experience to launch my own asset management firm

specializing in socially responsible investments. Growing up as

a South Asian, I witnessed family and friends work in select,

culturally acceptable professions such as medicine, engineering

and accounting. When I spoke to them, they exhibited no

desire to be leaders in their chosen professions, to change

the world, or simply to think big. The only exception was my

father.

My father had lived a life of poverty in India and Bangladesh,

starting his formal education at the late age of twelve. Despite

his very limited resources, he refused to ascribe to the notion

that his circumstances defined what he could accomplish in

life. He worked tremendously hard and, unlike many of his

peers, pursued the path of higher education, rather than

seeking the immediate gratification of earning income as a

labourer. His intrepid ambitions paid off and today my father

is the CEO of his own engineering consulting firm. My father’s

confidence to dream beyond the scope of his existing

circumstances has encouraged me to do the same in my

life.

Currently I am a Chartered Accountant working in the

financial services industry at one of the world’s largest

professional services firms, and I aspire to being more than a

valued employee – I aspire to employ and empower others. I

aspire to conduct an IPO of my own fund. I aspire to invest in

companies that provide viable solutions to these problems.

It is my sincere belief that every person, regardless of their

cultural heritage, has the potential to realize their professional

and personal ambitions. And as such, we need not be afraid

of thinking big.

Ascend Canada invited all members to share their aspirational stories in the Think Big Contest. The contest was enthusiastically received with numerous spirited submissions. After much deliberation by our panel of judges, the following winners were selected. Thank you to all the members who submitted their stories and congratulations to our winners!


Jacqueline Manshu Jiang Financial Advisor, TD Bank Group

I remember thinking, “Should I stay or should I go?” when I couldn’t land a “real” job after finishing MBA school. I was so frustrated in the job market and doubted if I was going to make it here in Canada as a landed immigrant all by myself.

I stayed in Hamilton after leaving McMaster hanging onto a part-time job. I was feeling so dismal that I was thinking of selling my car and going back to China! I pulled into a used car dealer to ask about the possibilities of selling the car back to them. I chatted with the salesperson who had been very patient with me. I told him I didn’t know if I was going to stay in Canada and I might have to sell the car back to them. He knew I was in the MBA program and he knew my experience with school and Canada as a landed immigrant in general. “You’ll excel!” He looked into my eyes and said, “You’ve got to believe in yourself! Just like you excelled at the MBA program, you’ll excel eventually!” he continued, “And you’re Chinese, just like you excel at math (as opposed to at driving-

as we often joked), you’ll excel as long as you get a chance!” I told him before how I started school not sure if I was able to do it so I began with two courses to just give it a try, then I became one of the top students in the program and was so happy every time I got an “A” after an exam that I couldn’t help but share my grade with him each time we met.

I decided to keep the car and use it to drive around for interviews. I finally landed a personal banker position at TD – I stayed. Now here I am - a successful financial advisor at TD Bank! I always remember what he said to me and I’m proud to say “yes, I excelled at what I do!”

Through the years whenever I hear people like Kelvin Tran or Rahim Hirji share their journeys, or read about the biography of each of the directors at Ascend, they always remind me of those words “You’ll excel!”

Like most pan-Asians, I still have a dream in my heart. At times when I feel like “life has killed the dream I dreamed”, I try to tell myself “You’ll excel as long as you get a chance!”

Megan Lem

Student, Faculty of Law, University of Western Ontario

My father grew up working in our family’s “ma & pa” Chinese

food take-out restaurant. He worked very hard to get his

B.Comm from the University of Toronto in 1984 while working

regularly at the restaurant. He almost became an accountant,

qualifying to write the Chartered Accountant UFE, but he

then noticed that, although the Asian-Canadian community

in Ontario has exploded in size over the past couple of

decades, the Asian-Canadian community was (and remains)

grossly under-represented at all levels in the legal community

- in private practice, in government, and on the bench. He

went on to law school instead, graduating from Osgoode

Hall Law School at York University with a J.D. in 1987, all the

while still working nights at our family Chinese food take-out

restaurant.

Although he shifted from accounting to law, he continued

to focus entirely on the corporate commercial world, eventually

specializing in commercial real estate. While there is an

increasing number of Asian-Canadian lawyers servicing the

domestic consumer markets, the number of lawyers practicing

in Bay Street firms is very low, and the number of senior

partners on Bay Street is even lower. He has been a partner

in a Bay Street law firm for almost twenty years now and was

awarded the Federation of Asian Canadian Lawyers’ Lifetime

Achievement Award and the Ontario Bar Association’s Award

of Excellence in Real Estate.

This is an incredible journey from Chop Suey to Senior Partner

on Bay Street. Curiously, my father credits much of his current

success to the work ethic that he developed while working at

our family restaurant. The dedication, hard work, and ability to

work effectively under constant stress were traits first learned

at our family restaurant, yet the skills remain as relevant today

in the corporate commercial law world as they were decades

ago in the fast food world.

My father is now mentor to several young lawyers coming

up through the ranks (both at his own and at other firms on

Bay Street), with a special emphasis on young Asian-Canadian

corporate commercial lawyers. Although he never really had

the benefit of many mentors in his career, he believes

very much in the mentoring process. He has

told me that, in addition

to tireless hard work, an

inspiring and supportive

mentor is the single best

determinant of career

success. I cannot help

but believe him.

Chitwant Kohli, Director. Ascend Canada; SVP,

Enterprise Operations and Payments, Royal

Bank of Canada

My aspirations have evolved over the years

and have been constantly influenced by my

achievements. However the core part has not

changed – learning new things both formally and informally.

At some point I will channel this learning into formal teaching even

though I am coaching / mentoring all the time.

I spent my childhood and early adulthood in India. Initially I wanted

to go into the Indian Air Force as a pilot. That changed quickly as

my parents and grandparents didn’t like the dangers that come with

it. As I grew older I received good exposure to medium- and large-

sized businesses and their management through my father. My father

was a bank manager and his social network included quite a few

businessmen. All of this exposure coupled with my excellent academic

scores in math inspired me to pursue a career in the commerce field.

The details of my aspiration were not clearly defined but I knew

I wanted to be part of a business enterprise in India – either in a

corporate role or as an owner. To fulfill my aspiration, I obtained my

formal education by completing a Bachelor of Commerce degree

followed by an MBA.

Soon thereafter, I moved to Canada and my aspiration evolved to

adapt to the changed environment. I was very fortunate to get my first

break working on a six week contract with RBC. I further improved

my knowledge and learning by completing the CMA designation.

Throughout my 25 years at RBC, I’ve been encouraged to develop

my skills, pursue further education and had opportunities to work

in different areas of the organization. I didn’t aspire to have specific

titles or positions; instead I always looked forward to handling bigger

and more global portfolios. As I assumed more responsibilities and

opportunities to develop my leadership skills, my broad aspiration of

running a business narrowed, and eventually settled around running

a big part of RBC. My aspiration is to continue to learn and handle an

even bigger mandate. I also aspire to contribute significantly to the

broader community through my volunteer efforts with organizations

such as Trillium Health Partners, Ascend Canada, etc.

My cultural background shaped my positive attitude and ability to

adapt to different circumstances. Having started with a broad

aspiration, it was important to remain flexible in doing what

was necessary to reach my goals. Self motivation has been a big

factor in my achievements. Staying calm, analytical and a ‘Can Do’

approach to work and life in general has enabled me to realize my

aspirations. I encourage people to keep refreshing their aspirations over time. Do

find time to build your network of people both inside and outside

the organization as I learned a lot by speaking to and observing their

behaviors. It’s important not to “burn bridges” with people in your

career, regardless of their position. Always watch out for Analysis/

Paralysis syndrome because as leaders we are valued for our decision

making talents.

Vivian Chen, Director, Ascend Canada; Partner, Taxation Services, KPMG LLP

I aspire to be a well-respected tax professional and contribute to enabling out future leaders within the Asian community.

My career aspirations evolved over time and my cultural background played a role in that process. I was born and raised in Ningbo, a coastal city located in the south-east part of China. When I first came to Canada to attend university, like many first year university students, I didn’t really know what I wanted to be. So I kept my options open by taking both commerce and science courses in my first year at the University of Toronto. As a first generation immigrant, I did not have an established social and professional network in Canada made readily available for me. After completing my first year at university, I decided to work towards a professional designation because I believed that if I worked hard enough I would pass all the exams and would get my chartered accountant designation. The chartered accountant designation definitely opened up more opportunities for me. I probably sound like a recruiting ad for the Institute of Chartered Accountant – but it has truly turned out that way for me!

My bilingual capability has also influenced my career trajectory. As English is not my native language, I took additional public speaking and communications courses in order to succeed in mainstream corporate Canada. This was extra work, but well worth it. On the other hand, my proficiency with both Mandarin and Cantonese has allowed me to build and service my client base from the Chinese

community much more effectively.

Throughout my career progression my mentors and sponsors have made all the difference. When I began my first co-op job at BMO Nesbitt Burns, my supervisor was very supportive of my work and encouraged me to apply to the then Big 5 accounting firms. I did join KPMG’s Audit practice and subsequently transferred to the tax practice.

At KPMG, I have always been encouraged to pursue my career aspiration including setting my sights on becoming a partner. When I first joined KPMG, there were a very limited number of partners with Asian backgrounds, let alone female Asian partners who were first generation immigrants. The senior partners I worked with played a significant role in championing my career progression. I was given opportunities to lead significant engagements for the firm’s biggest clients and was well supported in pursuing my community involvement with Ascend and the East Asian Network at KPMG.

As a Board member of Ascend Canada, and as the lead Partner responsible for overseeing the East Asian Network here at KPMG, I am able to personally support, mentor and encourage people with a common cultural background to develop their soft skills and support various organizations in the Asian community.

Finally, if I am asked to give one piece of career advice, I would say: Be passionate about what you do. I enjoyed tax ever since I was exposed to corporate tax from my first co-op job. I truly believe that liking what you do is a key ingredient to success.

Ascend Canada also invited our Directors to share their personal stories and advice to inspire members to Think Big.


Membership has grown significantly over the past year, due in large part to more and more Pan-Asian professionals understanding the need to take their careers to the next level by developing leadership skills, their personal brand, widening professional networking and focusing on professional development – all core opportunities provided to members by Ascend Canada.

Motivated, vibrant and energetic, Ascend Canada’s members represent a wide range of diverse professionals from prestigious firms from various industries across Canada. Whether early in their careers or distinguished leaders and executives from some of Canada’s leading organizations, our members continue to realize the benefits of Ascend, through various leadership, mentor and career development programs offered throughout the year. We stand united in achieving our common goal – the desire to enhance Pan-Asian leadership in corporate Canada and our members’ continuous support and enthusiastic participation in our programs brings us closer to our goal each day. We thank all our members for their support and encourage them to take advantage of the networking opportunities and career building programs that will be offered by Ascend Canada in the coming year.

Our Members

A Year of Growth

Ascend Canada’s membership approximately doubled in 2013, including members of our Vancouver chapter. Our 1,700 members look to Ascend for support in building leadership skills, networking with peers, and advancing their careers.

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Membership Growth

Our Volunteers

Ascend Canada’s rapid growth and success would not have been possible without the talents of the organization’s volunteers. The teams of volunteers range from executives to young professionals – but what unites them all is a passion for making valuable connections, sharing unique skills and thinking big when it comes to organizing events that will inspire future Pan-Asian leaders.

The mandate for the Volunteer Engagement work-stream is to ensure Ascend Canada has an engaged and active volunteer base to effectively execute all of our organizational missions and objectives. Over 160 dedicated volunteers, spanning ten different work streams contribute over a thousand hours of their own time each year. They are actively involved in every aspect from managing daily operations & finance, planning,

delivering and marketing our marquee events, enriching professional development through the Executive Insight Series or growing overall membership and sponsorship.

The growth and diversity of our volunteer base is further reflected in the cross section of expertise and knowledge that we are able to draw upon. Each volunteer member is an integral component and contributor to the overall success of Ascend.

Call to Action

Many of our volunteers have also made valuable connections and developed new skills through working with Ascend. In other words, volunteer opportunities have led to new career opportunities. Visit www.ascendleadership.ca to get more involved and see where volunteering will take you.

Our enthusiastic volunteers at the annual Fall Conference

Congratulations to our 2013 Volunteer Team MVP’s!!

Dominic Chow, StrategyElaine Sideco, Volunteer Engagement Joane Mui, FinanceLarisa Sukumar, Annual Report Peter Chen, Operations

Sam Chan, Marketing Teressa Briggs, Governance Tom Liu, Sponsorship and Member Engagement Truman Chen, IT Wing-Lok Wong, Member Program and Events


Rachael Wong,Branch Manager, TD Bank Group

“It is very inspiring to see the energy, the enthusiasm and the passion the Ascend organizing team and its volunteers exude. I am glad to be given the opportunity to give back to the community, grow in my leadership journey and also network with so many talented individuals.”

Mandy LiangInvestment Advisor, TD Bank Group

“Like many other Chinese Canadians, I grew up struggling between the traditional belief to stay out of the spotlight and the North American way of taking the stage. I have always found myself

to be more comfortable staying low and humble than to be the centre of attention. However, in the world of business, if you cannot bring yourself out there to draw acknowledgement, it isn’t very likely that anyone will come knocking on your door to recognize your strengths and potential. Being a volunteer allowed me to grow with Ascend, providing me many opportunities to meet interesting people with similar goals and beliefs. I learned to become more proactive and not let a single opportunity slip by. In the past year I have pursued many things beyond my comfort zone, and looking back, those are also the most remarkable experiences. Being engaged in Ascend Canada as a volunteer has become my passion, as I am truly thankful for the changes it made in me and the valuable experiences I’ve gained through the journey.“

Maggie Leung Senior Consultant, Deloitte

“Volunteering in the Strategy Work stream has provided me with the opportunity to see first-hand the passion and dedication the leaders have towards achieving Ascend’s Vision. It is one of the many ways to get involved as member, contribute back and be a part of the change.”

Volunteers enjoying themselves at the volunteer appreciation

Volunteer Testimonies

Volunteer Accomplishments

Successfully launched the Ascend Canada Vancouver Chapter

Successfully delivered 9 premium events to our Ascend members with over 900 attendants

Collaborated with sponsor firms’ relationship managers to promote awareness for Ascend, increased our membership base by approximately two-fold; with Ascend’s 5 largest events reaching full capacity

Engaged in discussions and established relationships with several potential sponsors, successfully attracted 3 new sponsors

Increased our volunteer base by 44% to over 160 dedicated individuals who generously provide their time and talent in every area and facet of the organization which enables Ascend Canada to achieve its overall success

Maintained a strong financial position, successfully managing the budget while keeping administrative costs down

Formulated performance scorecard to monitor achievement of strategic objectives

Volunteers at a strategy session

Our SponsorsAt Ascend, we deeply value our sponsors. Our sponsors have consistently committed significant resources to help aspiring Pan-Asian leaders combine their potential with the business needs. Our sponsors have shared their perspectives on how they harness aspirations of individuals and the role of diversity and inclusion in their respective organizations.

Aspiration:

Comments from our sponsors on Aspirations

Having aspiration is critical to achievement for both organizations and individuals. It provides motivation and focus and is a key contributor to career success at RBC. We encourage and support all employees to have career goals and the setting of goals and action plans to achieve them are what make aspirations real, and not just a dream.

Career success means different things to different people, so aspirations are as varied as the individuals defining them. Aspirations may be set around goals to build expertise, establish rewarding relationships, take on new challenges, have an impact, or to lead others. The more defined the aspiration, the more chance of reaching them.

At RBC career opportunity is based on three factors coming together : the employee’s aspirations, the employee’s capabilities, and the business needs. An employee’s career aspirations require a reality check that includes: knowing yourself and how others see you; and knowing the world of work to understand what’s changing. With these in place, you’re in good shape to understand your options within the organization.

Be declarative: share what your short and longer term career goals are. It is important that those around you know what you are willing to invest in your career.

Be self-aware: Seek feedback and be transparent about your development areas, then create action plans to address them. Also, be conscious of your strengths and plan to hone them.

Be ‘sponsorable’: Build relationships and allies in your career. You are more likely to attract potential sponsors if you are willing to go beyond your comfort zone, be focused on what can be done not what can’t be done and pay attention to what others are also trying to achieve.

Per Scott, Vice President, Human Resources, Royal Bank of Canada

Congratulations to Ascend Canada on all of the fantastic things you accomplished in 2013. I am a firm believer that if you think big you will achieve career success. If you have ambitions and aspirations – the sky is the limit!

No matter who you are: a woman, a man, a visible minority, someone with a disability – we all have everything we need to be a smashing success. The key is – just go out and get it! Don’t wait for someone to tap your shoulder: if you see an opportunity, take advantage of it and raise your hand! Show everyone all of the wonderful things that you’re capable of.

It’s essential to set high goals for yourself and have a positive attitude. Don’t focus on the barriers that you perceive to be standing in your way – focus on the opportunities. Believe in the power of positive thinking: it’s often what we say to ourselves that determines the outcome. If we believe in ourselves each of us can achieve anything within our potential.

Leadership takes many forms and in this increasingly diverse world, we benefit from having a variety of leadership styles. Are you working towards a leadership role? Think about yourself – and opportunities you might have to use your voice: share your thoughts, your experience, your opinion. Demonstrate your knowledge, intelligence, and be confident! That’s how you can make your aspirations a reality.

It’s also important to help remove barriers your colleagues may be experiencing. If you notice that someone is quieter, help them find their voice. Call on them, and put opportunities to speak and lead in their way. And always put opportunities to speak and lead in your own way.

I can think of a couple of my former bosses who did this for me, and it made a difference in my career. They helped me find my voice. It’s up to you to do the same for yourself, and for someone else.

Colleen Johnston, Group Head Finance, Sourcing and Corporate Communications and Chief Financial Officer, TD Bank Group


Congratulations to Ascend Canada on your significant accomplishments in 2013.

As a proud sponsor, we applaud Ascend’s dedication to enable your members, business partners and the community to leverage the leadership and global business potential of Pan-Asians. It’s clear from your efforts that you recognize the importance of inclusivity.

At Deloitte, we also value inclusivity. Our strategy moves beyond celebrating differences to truly creating a culture where our people have an increased sense of belonging and motivation. Our strategy will result in a respectful environment that enables our people to do their best work.

We’re pushing ourselves to become the first professional services firm to reflect the Canadian population, at all levels of our organization. Make no mistake about it, inclusion drives performance. This will benefit every individual who works at our firm – and give Deloitte a competitive advantage.

At Deloitte, we understand the fundamental, positive role business can play in shaping and creating the society of the future. We intend to continue collaborating with leading organizations like Ascend and with governments to influence and advance the diversity and inclusion agenda on a national and international level.

There is an African proverb that states, “If you wish to go fast, go alone. If you wish to go far, go together.” Let’s embrace this journey to inclusivity together, driving higher and measurable levels of innovation, performance and engagement.

Shannon MacDonald,

Chief Inclusion Officer, Deloitte

At EY, we’re proud to support Ascend in its aspiration to help members of the Pan-Asian community share their unique perspectives to lead and shape business, and we’re pleased to

congratulate you on all your successes this past year.

For 150 years in Canada, we’ve been doing our part in building a better working world for our clients, our people and our communities. And we couldn’t have succeeded without recognizing and embracing the power and potential of diversity, inclusiveness and human equity.

Inclusiveness is about much more than creating an open and equitable environment based on ethnicity, culture, gender, sexual orientation, age and physical ability. It’s about embracing the different ideas, perspectives, skills and experiences that diverse individuals bring to the table and putting them together to address familiar problems in new and innovative ways. An inclusive culture empowers you to offer the flexibility and creativity to address ever-evolving needs and challenges.

Innovation is the soul of any successful business. It’s the basis for every single new and exciting development - every product, service, technology and breakthrough - that’s ever been. To innovate effectively, you need to look at a scenario from more than just one perspective. And that means the more diverse and inclusive your team is, the more effective your business will be.

That’s why we’re so proud to continue to support Ascend, and wish you all the best as you continue to aspire, and inspire, generations of Pan-Asians to do their best in building a better working world in the years to come.

Jeannine Pereira, Diversity, Inclusiveness and Human Equity Leader,EY

Diversity:

Comments from our sponsors on DiversityAt KPMG, Diversity and Community Leadership are two very important initiatives that are integral to our culture and our business strategy. Community

leadership and personal brand development are integral to how we work at KPMG. Many of the soft skill training programs such as the Executive Insight Series that Ascend organized are tailored for Pan-Asian professionals and highly appreciated by our KPMG people as they develop and enhance their career journey.

As one of Canada’s Best Diversity Employers for seven years running, KPMG is committed to creating and supporting an inclusive workplace that respects and values the differences in all of our people. Our goal is to create a work environment that not only respects each and every member of our team, but also encourages and leverages the variety of perspectives you all bring to the table. Diversity of thought and experiences is what will ultimately allow us to deliver the best solutions to our clients, and contribute to our culture of inclusiveness.

I was honored to be a panelist at the Ascend Fall 2013 conference, and was witness to so many dynamic professionals eager to develop their personal networks, deepen relationships and collaborate with fellow colleagues and Pan-Asian professionals from a diverse group of organizations. There is a natural fit for us with Ascend, as both organizations are fully committed to developing the full potential of tomorrow’s leaders in the Pan-Asian community. Our affiliation with Ascend Canada helps our firm to recruit, retain and develop talent from within, while also providing our Partners the opportunity to mentor and inspire fellow members.

As a proud sponsor and founding firm member of Ascend Canada, KPMG is looking forward to another great year of partnership with Ascend in the year ahead. We celebrate and congratulate Ascend on the achievements of 2013.

Kristy Carscallen, Partner, Chief Human Resources Officer, KPMG

As a global company with operations throughout Asia and North America, one of Manulife’s strengths

is employees who bring diverse experiences and expertise to developing new solutions that meet people’s financial needs. We develop our leaders by encouraging them to broaden their skills and perspectives by moving between Manulife’s businesses and geographies during their careers. Ascend Canada provides Manulife employees the opportunity to learn and grow through networking with leaders and future leaders of diverse backgrounds and disciplines. I was personally honored to speak at an Ascend Canada event in 2013. We look forward to a great partnership with Ascend Canada in the years ahead.

Rahim Hirji, Executive Vice President and Chief Risk Officer, Manulife Financial

McCarthy Tétrault is delighted with the successes we shared with Ascend Canada in 2013. Diversity and inclusiveness have long been core values of our firm. We

are very proud to have had meaningful opportunities to help many in the legal profession overcome barriers related to diversity. Being a part of the advancement of tomorrow’s leaders is a privilege.

Diversity is a value that binds all of us and inspires us to continuously make our communities better places to live and work. Through all of our activities with Ascend, and as a founding member and ongoing sponsor, we are very pleased to continue extending our strongest support to the Pan-Asian community. We look forward to another great year together in 2014.

Lisa Vogt, Chief Diversity Officer, McCarthy Tétrault


Gold Sponsors:

Bronze Sponsors:

Silver Sponsors:

Financial Summary

Year in Review Fiscal 2013 was a strong year in which we were able to successfully launch the Vancouver Chapter and hold more events and programs for our members. These initiatives were largely supported by increased level of corporate sponsorship and event & program fees. Ascend Canada’s operations resulted in an excess of revenues over expenses of $46,400 and unrestricted net assets of $178,719 at the end of the year. The net assets are intended to be used for the strategic direction of Ascend Canada, which includes the expansion of the organization through future launches of chapters and strategic alliances.

RevenuesTotal revenue from all sources amounted to $192,764, of which 80% was from corporate sponsorship funded by 14 sponsor firms. Revenue decreased 17% from last year, as last year’s revenue included one time contributions provided by the founding sponsors. The decrease was partially offset by increased corporate sponsorship and event & program fees this year. Revenues from programs and events contributed to 16% of the total revenues representing a normalized level of revenues compared to last year, where fees were not charged for most of the events and programs. The remaining revenues were raised from membership fees and other contributions.

How the funds are usedTotal expenses were $146,364, of which 85% were related to providing member programs and events. The remaining 15% was related to general, administrative and professional fees. Total expenses increased by 46% largely due to more events and programs held this year. Ascend Canada continued to leverage its volunteer base to maintain low general and administrative expenses.

Outlook for 2014 In 2014, Ascend Canada will continue to focus its efforts to pursue its mission and strategy, as well as to deliver exceptional programs and events for its members.

We have added a platinum level corporate sponsorship and increased the fees on other selected levels in 2014. The new sponsorship level allow existing and new sponsors to demonstrate their commitment to the organization and support ongoing expansion of the organization. Ascend Canada is evaluating the launch of a new chapter in 2014.


STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETSFor the year ended December 31, 2013 and the period from January 5, 2012 (date of incorporation) to December 31, 2012 2013 2012

REVENUE Corporate Sponsorship $ 155,000 $ 145,000 Contributions - 65,000 Programs, Events, Membership fees and Other 37,764 22,725

192,764 232,725

EXPENSES Events and programs 124,099 84,209 Office, general and other operating expenses 22,265 16,197

146,364 100,406 EXCESS OF REVENUE OVER EXPENSES $ 46,400 $ 132,319

NET ASSETS beginning of period $ 132,319 $ -

NET ASSETS end of period $ 178,719 $ 132,319

STATEMENT OF FINANCIAL POSITIONAs at December 31 2013 2012ASSETS Current

Cash $ 260,810 $ 165,601 Prepaid expenses and other assets 6,471 5,903 $ 267,281 $ 171,504 LIABILITIES

Current Accounts payable and accrued liabilities $ 36,040 $ 13,176 Deferred sponsorship revenue 50,000 25,000 Deferred membership and event revenue 2,522 1,009

88,562 39,185

NET ASSETS Unrestricted 178,719 132,319

$ 267,281 $ 171,504

& Governance Management

Board of Directors (from left to right): Back row: Kelvin Tran,Tzen-Yi Goh,Chitwant Kohli,Priyal Thakrar; Front row: Sohana Inderlall,Vivian Chen

Kelvin TranSenior Vice President, TD Bank Group

Chitwant KohliSenior Vice President, Royal Bank of Canada

Priyal ThakrarVice President, Manulife Financial

Raj KrishnamoorthyPartner, Deloitte

Rani TurnaPartner, PwC

Sandeep GuptaPartner, Deloitte and VP of Chapter Affairs, Ascend US National Office

Sohana InderlallPartner, EY

Tzen-Yi GohPartner, McCarthy Tétrault

Vivian ChenPartner, KPMG

Board of Directors

Ascend is led by a team of Pan-Asian executives, each representing some of the most well-known and respected finance and legal firms in Canada. The management team is dedicated to Ascend’s mission to help develop the careers and leadership aspirations of Pan-Asian professionals.

20 ASCEND CANADA ANNUAL REPORT 2013

22 ASCEND CANADA ANNUAL REPORT 2013

Management Team - Vancouver ChapterPresident Manish Bharadwaj, Partner, DeloitteExecutive Vice President Conrad Rego, Partner, McCarthy Tétrault VP, Treasury Shirley Ma, Manager, Royal Bank of CanadaCo-VP Operations Lucy Liu, CA, Orbis InvestmentsAdrian Tan, Senior Manager, EYCo-VP Member Programs and Events Bronche Cheng, Partner, KPMGAlexander Chiang, District VP, TD Bank GroupJoanne Sun, Senior Manager, PwCCo-VP Sponsorship Angela Ma, Director, PwCHelen Low, Partner, FaskenCo-VP, Marketing and Communications Jenny Flojo, Marketing Manager, KPMGDebora Linehan, Regional VP, Royal Bank of CanadaVP, Technology Santhosh Sankar, Senior Consultant, DeloitteCo-VP, Volunteer Engagement Jamie Park, Senior Manager, KPMGAnita Manalo, Manager, EY

Management Team - Ascend Canada (from left to right) Back row: Jag Obhan, Bobby Wang, Kiran Chauhan, Daniel Shum, Andy Shibata.

Front row: Wil Au, Yan Xu, Lesley Luk, Warren Kwan

Management Team - Vancouver Chapter(from left to right) Back row: Jamie Park, Shirley Ma, Jenny Flojo, Anita ManaloMiddle back row:Adrian Tan, Lucy Liu, Angela Ma, Joanne Sun, Chitwant Kohli (Director, Ascend Canada)

Middle front row: Jeff Chin (National President of Ascend (US)), Debora Linehan, Janice Fukakusa (CAO & CFO, Royal Bank of Canada), Kelvin Tran (President and Chairman of the Board, Ascend Canada)

Front row: Alexander Chiang, Conrad Rego, Manish Bharadwaj, Bronche Cheng

Management Team - Ascend CanadaPresident Kelvin Tran, Senior Vice President, TD Bank Group Executive Vice President Agnes Mak, Partner, KPMG Treasurer Jag Obhan, Managing Director and Head of Third Party Finance, Manulife FinancialVP, Operations Yan Xu, Associate Vice President, TD Bank GroupVP, Membership Programs and Events Lesley Luk, Senior Manager, KPMG

VP, Marketing and Communications Kiran Chauhan, National PR Manager, PwC VP, Technology Daniel Shum, Partner, Deloitte VP, Sponsorship Wilfred Au, Associate Vice President, TD Bank GroupVP, Strategic Initiatives Warren Kwan, Vice President, TD Bank Group VP, Legal Affairs Bobby Wang, Associate, McCarthy TétraultVP, Volunteer Engagement Andy Shibata, Head of Brand Marketing, RBC

Connect with us at www.ascendleadership.caContact us at [email protected]

Watch us at www.youtube.com/AscendCanada

Financial statements are available through our website, or by contacting us via email or mail.Ascend Canada ● 77 King Street West ● PO Box 1155 ● Toronto Dominion Centre ● Toronto, ON M5K 1P2

ascend canada annual report 2013 1 singh, senior vice president, td michael ma , vice president, rbc...

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