St. Louis, MO -- (ReleaseWire) -- 03/07/2014 -- SogoTrade, Inc. is pleased to announce that effective January 1, 2014, Jonathan Yao, former President of Scottrade Hong Kong LTD, has been named as the company’s new CEO. Mr. Yao led a group that recently acquired the brokerage firm. As one of his first acts as CEO, Mr. Yao changed the name of the corporation from Wang Investment Associates to SogoTrade, Inc., so that the company could be better identified with its trade name.
Mr. Yao expressed his full confidence in the SogoTrade team telling his employees that “even though SogoTrade is small compared with some of the other discount brokerage firms, it is now positioned to compete with the big firms and succeed where others have failed.” Mr. Yao emphasized that SogoTrade has “very competitive technologies and excellent customer service, and more importantly, our employees work as a team and are eager to play a major role, guided by their new leadership, in the global market.”
For 11 years Mr. Yao spear-headed efforts at Scottrade to acquire new accounts and expand its services to the Chinese community in the U.S. When Mr. Yao started at Scottrade in 2001, he was the only Chinese speaking employee in the company and as a consequence was responsible for all efforts to reach and service his target customers, handling everything from strategic marketing and budgeting, to answering phone calls as the only customer service representative. Mr. Yao was able to expand the number of accounts among Chinese-speaking Americans from a mere handful, to over 300,000 by the time he left Scottrade in 2011, representing deposited assets in excess of $5 billion. He later became the President of Scottrade Hong Kong LTD and Director of all of its Asian Pacific Operations. Mr. Yao expressed his great appreciation for Rodger Riney, the founder of Scottrade, stating, “Rodger always showed faith in me and fully supported my efforts to expand into the domestic and international Asian markets.”
Addressing the current state of SogoTrade, Mr. Yao explained that “Domestic customers continue to make up the majority of SogoTrade accounts and we continue to explore and develop the US market. At the same time, we’ll pay more attention to the fast growing Asian market.” Mr. Yao concluded, “China has always had the potential to be a great market force, and now that it has so many wealthy citizens, they will be looking for ways to diversify—and SogoTrade will be there to assist them.”
Mr. Yao’s immediate objectives as CEO are to continue improving customer service and provide the most economical, effective and technologically advanced online trading experience for its domestic and international customers.
In addition to Mr. Yao, the other top executives at SogoTrade are Dennis Maloney, President and Chief Compliance Officer; Florence Tai, Chief Operating Officer; and Robert J. Benbenek, General Counsel.
About SogoTrade, Inc.
SogoTrade, Inc. is a U.S. online discount stock brokerage firm offering a wide range of investment products including stocks, options, ETFs and educational savings accounts. With its five online trading platforms and its market research tools, SogoTrade provides its Customers with some of the best trading technology while delivering some of the lowest commissions in the industry. SogoTrade offers discounted online trades for as low as $3 for stocks and ETFs, and $5 for Options (plus 50¢ per contract). SogoTrade has offices in New York, St. Louis and Los Angeles with bilingual customer services. They maintain a mail center in Shanghai, China to accommodate their international customers and provide 24-hour customer service, Monday through Friday. For more information visit: http://www.SogoTrade.com