What does State stand for? Hard Work

Indiana State’s story is best told through its graduates and faculty. Here is one of a dozen people who exemplifies the university’s key qualities.

Born in China and moving to Taiwan in 1952, Paul Lo, MBA ’70, grew up to become an internationally recognized banker and financier. How did he do it? Through “hard work,” he answers.

“Work should be progressive from ‘work hard’ to ‘work smart’ to ‘work result’ and then ‘work for a wonderful life,’” he said.

Lo chose to attend Indiana State University because he preferred to study in the Midwest rather than the East or West Coast of the United States. It was at Indiana State University, Lo said, that he developed the hard work ethic that brought such success. When he was attending business school, Lo also worked full time from midnight to 8 a.m. as a reception staffer at the popular Terre Haute Hotel.

After graduating, Lo held various positions with Citibank for 18 years in United States and Taipei. With the opening of Taiwan’s banking system to private banks in 1992, Lo formed Bank SinoPac by raising $400 million in capital. It has since grown to total assets of $50 billion and 9,000 staff and has branches and a host of financial affiliates throughout Taiwan, Hong Kong, Mainland China, Vietnam, Macau and California.

In 1999, Business Week Asian edition cited him as “50 Stars of Asia.” In 2008, Lo became Dr. Paul Lo when he was awarded an honorary doctor of laws degree and the Presidential Medal for International Service from Indiana State.

To help other Indiana State business students, from 2008 to 2011, Lo funded four 10 day learning trips to Taiwan and Hong Kong for young State students to get a first-hand look at the international business and financial services industry. Each year 12 students and two faculty members participated in the experience.

“I hope these trips opened their eyes to international exposures and the world we all live in, and that they realize they can achieve whatever they want in life and have big dreams, as long as they work hard and never give up,” Lo said. “You have to travel to see the world and how big it really is, then you can realize how small you are and begin to work hard for a wonderful life.”

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