A business can thrive with excellent people and products, but a truly great business sets itself apart with a clear sense of purpose and consistent values.

For Wayne Chiu, the founder and CEO of the Trico Group of Companies, that purpose is to provide shelter – in more ways than one. Chiu believes building a community takes more than creating award-winning developments. It takes investing in, and supporting, society. At Trico, the connection between “doing well” and “doing good” has helped shape Trico’s culture and purpose.

Chiu and his wife Eleanor immigrated from Hong Kong to Canada in 1982. His trajectory took him from working for others as an engineer to running a renovation company, before launching Trico in 1992. Since then, Chiu and his family have used their business success to contribute to educational institutions and health organizations across Calgary.

Celebrating 30 years as one of Calgary’s largest developers, Trico stands for the values that guide everyday operations. Those values are trust, respect, integrity, community, and opportunity. With this as the foundation, the Trico team has built over 11,500 single and multi-family homes and earned their reputation for craftsmanship and excellence in customer care. They are also known for their innovation and commitment to community. Trico is the first and only homebuilder in Western Canada to become a certified B Corp – a designation which identifies companies that meet high standards of social and environmental performance, accountability, and transparency.

Social entrepreneurship – the intersection between running a successful business and having a positive impact on society – is the foundation of Chiu’s approach. He believes that being a business leader involves empathy and compassion, as well as financial acumen. This is why he is happy he and Eleanor established the Trico Charitable Foundation, and with their involvement in the creation of the Trico Foundation Social Entrepreneurship Centre at the Haskayne School of Business.

“At ATB Financial, we talk a lot about the role of business in society. Wayne and the Trico Group exemplify what we believe that role is about. They lead with compassion and purpose, contributing in a meaningful way to our Alberta economy,” says ATB Financial’s president and CEO Curtis Stange.

"While Wayne and his team at Trico have achieved financial success, his relentless commitment to people over profit is what sets him apart,” adds Myron Feser, senior vice president, ATB Business. “The core values he built his company on are still the values that successfully guide their organization today. He will continue to do great things for his community.”

“Working with ATB on social entrepreneurship and as a client means being able to share a corporate culture of ‘doing well by doing good.’ We share similar corporate values: they are local, they care about their clients and care about business in Alberta. While ATB offers what a Big Five charter bank does, its focus on Alberta creates a bigger impact,” smiles Chiu before concluding, “We, as leaders, need to listen to people’s concerns and be compassionate about their problems. That is the key to good leadership – the human side.”

His dedication and community commitment have earned Chiu the 2022 Distinguished Business Award for Ethical Leadership from the Calgary Chamber of Commerce. Learn more at tricohomes.com.

From the November 2022 edition of Business in Calgary, and Business in Edmonton. Shared with permission.