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Cathay Bank Recognized As U.S. Best-in-class Employer

On January 25, Chang M. Liu, President and CEO; Lori Burquez, SVP, Human Resources; Craig Lock, FVP, Benefits & Wellness; and Vivian La, AVP, Benefits & Wellness, accepted an award from Gallagher, a global insurance brokerage, risk management and consulting services firm, honoring Cathay Bank as part of its Best-in-Class Awards. Under Craig’s leadership, this is the second award the bank has received. In being named a Best-in-Class Employer, the bank was identified as an organization that excelled in optimizing employee and organizational well-being.


Team Members from Cathay Bank pose with the Gallagher Award and members from the firm in a conference room.
(left to right) Chang M. Liu, Lori Burquez, Craig Lock, and Gallagher representatives, Andrew Shang, Phil Gordon, Scott Gregory, Emma Kao


“We strive to provide an environment where our most important asset — our team members — are able to thrive personally and professionally in their roles, and we are extremely honored to receive this recognition,” Chang said. “This award provides an important differentiator as we compete for talent in today’s tight labor market.”

More than 4,000 employers participated in Gallagher’s annual survey, and only 112, or 17%, received this prestigious Best-in-Class designation. Of the participants, 682 employers fell under the large employer category (with 1,000 or more full-time employees), including Cathay.


Vivian La with the award
Vivian La with the award


Participating employers were assigned points and placed in quartiles based on their relative performance in the following award criteria:

  • Planning horizons for the benefits and compensation strategies
  • Extent of the well-being strategy
  • Turnover rate for full-time employees
  • Completion of a workforce engagement survey
  • Use of an HR technology strategy and its level of sophistication
  • Difference in healthcare costs over the prior year
  • Use of a communications strategy

“Cathay Bank was recognized as a U.S. Best-in-Class Employer because of how it approaches organizational priorities with a long-term outlook; provides high-quality, high-value benefits; and builds and solidifies a strong organizational culture through its communications,” said William F. Ziebell, CEO of Gallagher's Benefits & HR Consulting Division “In doing so, Cathay Bank invests in the whole employee by providing distinct and relevant well-being resources that will attract and retain talent.”

This article does not constitute legal, accounting or other professional advice. Although the information contained herein is intended to be accurate, Cathay Bank does not assume liability for loss or damage due to reliance on such information.

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