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WOA has formally launched World of Allocators Limited (WOAL), a Hong Kong-based non-profit entity that will serve as the primary operating organization for WOA globally. This structural milestone reflects WOA's evolution from an informal network to a more robust, mission-aligned institution.

As part of this transition, Shanghai Ziben Consulting Limited, which operates both WOA and CAC brand and their respective activities, will remain active for China Mainland operations but transfer its brand ownership to WOAL. This step consolidates WOA's governance under one international umbrella while maintaining local operating continuity in China.

WOAL will be governed by a newly established Board of Directors, composed of experienced professionals from across the global investment and philanthropic ecosystem. The inaugural board members are:

Frances Huang

Jonathan Rechtman

Josephine Wu

Julie Zhang

Michelle Sung

Nicole Su (Chair)

Shinya Deguchi

Each director will serve a two-year term, providing strategic oversight and supporting operational initiatives across chapters. The board will also play an active role in expanding WOA's programming and deepening its commitment to make positive impact to the industry.

The Board of Directors will formally replace the "Partners," who until now were responsible for operating WOA. We extend our heartfelt thanks to the three Partners-Nicole Su, Jonathan Rechtman, and Shinya Deguchi-for their dedication and leadership. As inaugural board members, they will continue to guide WOA's evolution, ensuring that the organization stays true to its culture of learning, sharing, and connecting.

To better serve its global membership, WOA is pleased to announce the launch of its Rest of the World (ROW) Chapter. This new chapter will offer programming for members outside of the four core cities-Beijing, Greater Bay Area, Shanghai, and Singapore.

ROW's activities will be conducted primarily online, ensuring accessibility to all WOA members regardless of location. All members are welcome to join ROW events, and conversely, any WOA member may attend activities hosted by local chapters around the world.

WOA also encourages members traveling for business or leisure to connect with local chapters in the cities they visit. Local Chapter Committees often organize informal gatherings for visiting members.

Nicole Su, Chair of the Board, shared the following remarks: "It's an honor to serve as the first Chair of the inaugural Board of WOA and to work alongside such a brilliant team of board members and local chapter committees. As a non-profit organization, WOA is extremely fortunate to be supported by a dedicated community-many of whom generously contribute their time and expertise on a volunteer basis.

We are also deeply grateful for our two full-time team members, Ella and Peter, whose professionalism and commitment form the backbone of WOA's day-to-day operations. Their contributions are vital to everything we do.

Over the years, WOA and its predecessor, Capital Allocators China (CAC), have gone through several stages of growth and evolution. But our North Star has remained constant: to build an independent, globally connected, and impact-driven community that champions long-term thinking, continuous learning, and meaningful collaboration across the investment ecosystem.

I am especially proud of the quality and spirit of our members-individuals who come from diverse roles across the industry, yet share a common mindset of curiosity, generosity, and thoughtful engagement. It is this community that drives us forward. As the Board and local chapter committees, we remain committed to curating high-quality events and educational programs that empower our members to grow-together, and for the long term."