Jack Perkowski, Founder and Chairman
Upon graduating from Yale, where he received the Gordon Brown Memorial Prize awarded each year to the outstanding member of the Junior Class, and the Harvard Business School where he was named a Baker Scholar, Jack Perkowski spent 20 years on Wall Street, rising to head of Investment Banking at PaineWebber. Over the course of his career on Wall Street, Jack held a variety of positions in PaineWebber’s Investment Banking Division. He completed private placements, mergers and acquisitions and public offerings, rebuilt PaineWebber’s Real Estate Group after it was decimated by defections, and dramatically increased investment banking revenues as head of Investment Banking from 1985 to 1988. In 1987, Jack negotiated, and then renegotiated after the stock market collapse on Black Monday, October 19th, a $300 million equity infusion into PaineWebber by the Yasuda Life Insurance Company of Japan.
In 1990, well before others recognized the significant role that China would play in the global economy, he spent three years investigating opportunities in Asia and China, leading to the founding of ASIMCO Technologies in 1994, a major industrial enterprise in China’s automotive industry, which he built and ran for fifteen years before it was sold to Bain Capital in 2009.
Jack served as Chairman of ASIMCO’s Board of Directors and was Chief Executive Officer of the company from 1994 to 2008. Jack developed the strategy, raised the capital and assembled the management team that has enabled ASIMCO to become one of the most important players in China’s automotive components industry. Headquartered in Beijing with 12,000 employees throughout the country, ASIMCO is a unique foreign-invested company that was established specifically to serve the China market.
ASIMCO operates 17 manufacturing facilities in China and has 52 sales offices throughout the country, as well as offices in the United States, Europe and Japan. ASIMCO derives 85 percent of its sales from China, its main market. Within China, ASIMCO has a dominant position in the commercial vehicle segment where up to 25 percent of the components used in a diesel engine made in the country may come from ASIMCO factories.
Under Jack’s leadership, ASIMCO gained a reputation for developing local management and integrating a broad based China operation into the global economy. ASIMCO was three times named one of the “Ten Best Employers in China” in surveys conducted by Hewitt Associates and leading news organizations in Asia. In 2008, Jack was designated by China Auto News one of “30 Outstanding Entrepreneurs in China’s Auto Components Industry over the 30 Years of Economic Reform,” the only foreigner to receive this distinction.
Jack serves on the China Advisory Council of Magna International Inc., one of the world’s largest auto suppliers; the Board of Advisers for the Center For Emerging Markets at Northeastern University in the United States; and the Board of Advisers of Transmetrics, Inc., a European logistics software company. He is the Chairman of the International Advisory Board of Management and Economics (IABME) at Tianjin University in China; the Non-Executive Chairman of OC3 Entertainment, Inc., a leading facial animation company; and the Non-Executive Chairman of Talkr, Inc., a creator of mobile phone applications. Jack also served on the Board of Directors and Chairman of the Special Committee of Fushi Copperweld, Inc., a leading bimetallic company that was listed on NASDAQ before taken private by its Chairman.
Widely recognized as an expert on doing business in China, Jack authored Managing the Dragon: How I’m Building a Billion Dollar Business In China, published by Crown Publishing, a division of Random House, in March 2008. The Chinese edition of the book was published by China Youth Press in May 2008. Jack has also written numerous articles on China and doing business in the country for the Far Eastern Economic Review, AmCham’s China Brief, BusinessForum China, Huffington Post and other publications.
Jack is a frequent speaker and commentator on the subject of China to the broadcast media, including CNN, CNBC, Fox, BBC, NPR and CCTV, as well as a variety of audiences worldwide: universities, business schools, corporate and industry conferences, and various chapters of the Council on Foreign Relations, Asia Society, YPO and other professional organizations. He provides timely insights into ongoing developments in the country on www.managingthedragon.com.
Jack was a starting guard on one of the best football teams in Yale’s history and played in the famous 29-29 tie against Harvard in 1968, a game which Sports Illustrated has named one of the most exciting college football games of all time. Jack appeared in the movie, Harvard Beats Yale 29-29, which was produced in 2008 to commemorate the 40th anniversary of The Game.