Amy Fong, Chief Operating Officer and Head of ESG at FountainVest, shares why she left a career in banking in favor of running a non-profit, and why it’s important to bring these worlds together. She credits meditation for giving her clarity.
Hong Kong-native Amy Fong had been building a career in investment banking in Asia and the US for two decades, when her life unraveled. In pursuit of meaning, she jumped on the opportunity to steer the Hong Kong chapter of the international humanitarian organization Save the Children.
Today, Amy is the Chief Operating Officer (COO) and Head of Environment, Social, and Governance (ESG) at FountainVest Partners, a leading Asian private equity firm. In her role, and as a member of the Amer Sports Sustainability Committee, Amy advances the ESG agenda, armed with lessons from finance and the non-profit sector, as well as meditation.
Amy, you went from investment banking to the CEO of Save the Children Hong Kong. Can you describe the experience?
It was not an easy transition. I went from being a COO with resources to a nongovernmental organization (NGO) to build the team and capabilities from the ground up. At one point, I even did payroll myself.
Coming from a commercial mindset, I had lots to learn, but I found inspiration in the people who ran Save the Children globally. They were women with corporate backgrounds, many of whom were mothers, like myself, all driven to make a change for a better world.
I had to get used to colleagues expressing strong emotions, even crying, which rarely happens in the corporate world. The intensity of everyone’s commitment to the cause was humbling.
I was blessed to work with a spiritual teacher who taught me to open my heart and rely less on my mind. It took me a long time to learn and listen with compassion and empathy. If you are silently judging, you can’t hear and understand others’ experiences.
“We need more people who are bridging different sectors.”
What can the corporate world learn from NGO world—and the other way around?
Corporations and NGOs both need to find a way to embrace purpose, openness, and pragmatism. They must learn to understand and appreciate each other, to bring about a better world.
Both must learn to operate in a way where people feel heard, yet respect leadership that not only brings people together and forges agreement, but also makes tough decisions and inspires the way forward.
No matter where you work, instead of being absorbed in the “doing”, everyone should connect with one another from the essence of their “being” to cultivate a purpose-led environment based on collaboration. That’s when real transformation is possible.
Was this the inspiration for your return to finance four years ago, your desire to merge these two worlds?
By the fourth year with Save the Children, I had a strong and capable team. I thought I could relax a little.
Then a headhunter called about a COO opportunity with FountainVest. Initially I wasn’t interested—I thought I could raise funds for Save the Children [laughs]. I learned how FountainVest is building their ESG capabilities and realized that my background would be a great match.
We need more people who are bridging different sectors, especially in private equity, where we can help facilitate change in the world through many portfolio companies.
“The essence of Amer Sports is about environment and nature, and people and community.”
If you think about Amer Sports, what are the biggest opportunities in the sustainability space?
With Amer Sports, I see the love of nature, wellbeing, and coming together around sports and outdoors. The essence of Amer Sports is about environment and nature, and people and community.
It’s a blessing to be in the Amer Sports Sustainability Committee. Every brand is doing something powerful. It’s a matter of communicating that, making it visible, understandable, and even more powerful by bringing people together.
You have many positive identities, one as a mindfulness and meditation teacher. Why is it important to bring mindfulness to the corporate space?
We talk about the sustainability of the world, but ignore the sustainability of ourselves. Not only physical, but also emotional, mental, and spiritual health—how you relate to yourself, people around you, and the world you live in.
Work can become an energy drain, when one is unaware, which leads to sick leaves. I have personal experience of this. Neglecting our own wellbeing leads to more harm than we realize.
Why is meditation such a powerful tool?
It’s mental detox. Accumulated worries and stress leave a mark, so you need to constantly sweep and maintain a pristine mind. An uncluttered mind brings clarity and presence, enhancing both pleasure and efficiency in life.
It’s also a tool for self-discovery. We crave for connection and purpose. Maybe yours is to create beauty or make a positive impact on others. Life is short, and the easiest way to live it to the fullest is to enjoy the connection with all beings and be present.
Amy Fong
- Chief Operating Officer and Chair of ESG Committee at FountainVest Partners since 2019. Member of the Amer Sports Sustainability Committee. Member of the global Private Equity Advisory Committee of Principles of Responsible Investing (“PRI”).
- Previously the CEO of Save the Children Hong Kong. Spent two decades in financial services with JP Morgan, Credit Suisse, and Merrill Lynch, in the US and Asia.
- Graduate of Georgetown University. MBA from Columbia University. Co-president of the Columbia Business School Alumni Association in Hong Kong.
- Teaches meditation several times a week and runs two outreach programs, facilitating meditation at a Suicide Prevention Center and an Elderly and Women Center.
- Lives in Hong Kong, has a 21-year-old daughter and a 17-year-old son.
