Orion Group Management ― Executive Bios
Richard Chen
Richard Chen is the Chief Executive Officer of Orion Group Management, LLC, the General Partner of Orion Partners, LP. Mr. Chen began working for Citibank N.A. in 1974. He spent over twenty years at Citibank N.A., holding numerous positions including the manager of the Corporate Sales Desk in the Eurocurrency Department, manager of the Eurodollar desk, a trader in the Foreign Exchange Department, and finally, manager of the Emerging Markets Foreign Exchange Unit from 1991-1997. Under his leadership, Citibank N.A. developed a strong and versatile Emerging Markets Foreign Exchange Unit.
Mr. Chen developed or was instrumental in the following industry firsts:
- The first negotiable Certificate of Ownership issued by Citibank Nassau, Bahamas, for Eurodollar deposits in the American continents as versus already existing negotiable Eurodollar CD’s in London, England and Asian dollar CD’s in Singapore in their respective continents, providing lower cost of funds for banks in the American time zone and a liquid investment for companies which wish to invest offshore to take advantage of tax benefits.
- The first Floating Rate Note Issuance in the world, the Citicorp $650million Floating Rate Note Issue in 1976.
- The first Overnight Foreign Exchange trading desk established in Citibank, New York in 1984.
- The first non-delivery forward contract in the Foreign Exchange market.
- The first non-delivery forward contract priced and transacted in New Taiwan Dollars against US Dollars in Foreign Exchange market in 1992.
- The first non-delivery options contract in the Foreign Exchange market.
- The first leveraged hedged protected investment in a basket of emerging market currencies
He left Citibank in 1997 and subsequently owned and operated a restaurant business. He has been licensed and practiced as a realtor in both North Carolina and New York. He worked as a consultant in his home country of Hong Kong assisting American businesses with developing high tech ventures in China. In December 2001 Mr. Chen moved back to the United States and has been investigating and learning about the tax lien investment industry. He has personally participated in the purchase of TLC's in multiple auctions in five states and has purchased over 120 TLC’s.
Mr. Chen created Orion Group Management, LLC in March 2002 to serve as the General Partner of the Partnership.
Richard is the recipient of numerous awards from Renssalaer Polytechnic Institute, such as:
To find out what these awards are, click here.