TAIPEI (Taiwan News) — The chairman of Fubon Financial Holding (FFH) was confirmed to have COVID-19 after returning from abroad and is now quarantined in a hospital isolation ward, a company statement said Wednesday (Oct. 20).

"Richard Tsai (蔡明興) tested positive for the virus after arriving at the airport from abroad and is now in good condition. Fubon Financial Holding Co. and the chairman appreciate your concerns, while business operations will not be affected," the statement read.

The statement did not specify his departure location but rumors say Tsai returned from the U.S., per CNA. Meanwhile, UDN cited an internal letter to employees that Daniel Tsai (蔡明忠) of Fubon Group will act as interim chairman to oversee operations when his brother is on leave.

Headquartered in Taipei, FFH is the country's second-largest financial holding company in terms of total assets and owns Fubon Insurance, Fubon Bank, Fubon Asset Management, among others.