Weekly roundup of people news, July 7

MAS names new chairman; GIC gets new chairman for investment strategies committee; Temasek board member steps down; AIA makes senior appointments; KIC makes changes to investment teams; Tiger Brokers names CEO of AM arm; and more.
Weekly roundup of people news, July 7


The Monetary Authority of Singapore (MAS) appointed deputy prime minister and minister for finance Lawrence Wong as chairman of its board of directors. His appointment takes effect on July 8 for a term that ends on May 31, 2026.
Lawrence Wong

Wong has been deputy chairman of MAS since June 1 last year and previously served as a member of the de facto central bank’s board from June 2011 to August 2016.

He replaces senior minister and coordinating minister for social policies Tharman Shanmugaratnam, MAS’s chairman since May 2011.

Gan Kim Yong, Singapore’s minister for trade and industry, will replace Wong as the deputy chairman of MAS's board from July 8.


Singapore sovereign wealth fund GIC has appointed the country’s deputy prime minister and minister for finance, Lawrence Wong, as chairman of its investment strategies committee, effective July 7.

Wong has been a GIC board director since November 2018 and a member of the committee, which assists GIC’s board in evaluating management recommendations on asset allocation and portfolio oversight, since August 2017.

His appointment follows the resignation of Tharman Shanmugaratnam as GIC’s deputy chairman and chairman of the investment strategies committee, posts he held for four years and 12 years, respectively.


Temasek board member Robert Zoellick has stepped down from the board of the Singapore government-controlled investment company.

He had served on the company’s board since 2013.

Robert Zoellick

Zoellick, whose career has included stints as the US deputy secretary of state and president of the World Bank, continues his involvement with Temasek in an advisory capacity as chairman for the Americas, and he will additionally be appointed as chairman of Temasek’s Americas advisory panel.


Korea Investment Corporation (KIC) saw some changes and promotions in its investment teams as of July 1.

Huh Yoon-hyuck was promoted to managing director, head of absolute returns group, at the sovereign wealth fund. Huh was previously senior director.

Yang Sung-mo joined the private equity group, returning to KIC’s Seoul headquarters after a stint at the Singapore office.

In addition, Lee Chang-won was promoted to director from senior manager in the private equity group, where he is involved with private equity and veture capital portfolios.

Meanwhile, Ahn Seung-gu, senior director at KIC’s private equity group, recently resigned to reportedly join Abu Dhabi sovereign wealth fund Mubadala Investment Company. Mubadala could not be reached for comment.

A KIC spokesperson confirmed to AsianInvestor that Ahn, who joined in 2013, will be leaving the fund in early August.

Her current key responsibilities are direct and co-investments. Ahn has previously held roles in the private equity group, including buy-outs and secondaries.

The spokesperson declined to comment on who will be taking over Ahn’s responsibilities.

Prior to KIC, Ahn worked for Tstone Private Equity and Morgan Stanley's special situations group in Seoul.

Mari Elka Pangestu

AIA Group appointed Mari Elka Pangestu and Ong Chong Tee as independent non-executive directors (INED) and members of the nomination committee, both with effect from July 1, 2023.

Ong Chong Tee

They will work with AIA Group Chairman Edmund Tse.

Pangestu recently completed her role as World Bank’s managing director of development policy and partnerships.

Ong is the chairman of the Accounting and Corporate Regulatory Authority in Singapore. He has 35 years of experience with the MAS.

Meanwhile, AIA named another independent non-executive director, Chow Chung-kong, as chairman of the risk committee with effect from September 1, 2023.

He will replace Teo Swee Lian, who will retire, effective September 1, 2023. Teo is also a board representative on the ESG committee.


Thomas Shi

New York-based asset management firm VanEck hired Thomas Shi as its general manager for its China unit, VanEck Investment Management (Shanghai), effective June 1, the firm confirmed with AsianInvestor.

In the newly created role, Shi reports to Arian Neiron, chief executive officer and managing director, VanEck, Asia Pacific.

Shi has more than two decades of experience in the financial industry.

His previous roles included general manager of Allianz Global Investors Shanghai, and senior positions with Fortune SG Fund Management in Shanghai for over 14 years.


Jeremy Tan

Online brokerage Tiger Brokers (Singapore) has appointed Jeremy Tan as chief executive of its new fund management company, Tiger Fund Management.

His appointment to the newly created role became effective in May, according to the company.

Tan will be responsible for establishing the firm's capabilities in the fund management and wealth management space.

He was previously Tiger Brokers' chief investment officer, based in Singapore, where he will remain. 

There are no immediate plans to appoint a new CIO, a spokesperson told AsianInvestor.

Tiger Fund Management received a capital markets services licence in May and is regulated by the Monetary Authority of Singapore.

Kevin Li

Singapore-headquartered digital investment platform Syfe hired former Schroders Asia-Pacific digital engagement head Kevin Li as general manager and head of Hong Kong.

Archit Parakh, the firm’s current group head of risk will take on an additional role as head of investments for Hong Kong.

Li and Parakh will be responsible for leading Syfe's expansion in Hong Kong.

Li brings experience in driving digital wealth advisory propositions, fintech alliances and strategic joint venture developments. Prior to joining Syfe, he worked as the Asia-Pacific head of digital engagement at Schroders Investment Management until May.

He is also an advisory board member of the Greater Bay Area Fintech Talent Initiative and executive member of the wealthtech committee of the Fintech Association of Hong Kong.

Schroders declined to comment on whether Li will be replaced.


Kim Dong-cheol

MFS Investment Management (MFS) has appointed Kim Dong-cheol as relationship director for institutional sales in South Korea, effective May.

Based in MFS’ Hong Kong office, he will report to Sally Choo, managing director of Asia ex-Japan at MFS.

In his role, Kim will be responsible for promoting MFS’ range of fixed income and equity capabilities to major institutional investors in South Korea.

Kim joins from Amundi, where he served as director of institutional business in Korea.

He has also previously worked for Blackrock and SEI-Asset Korea.

Kim succeeds Hong Young-ju, a spokesperson told AsianInvestor.

Hong left MFS in October 2022 after eight months with the firm. She joined Robeco in November 2022 as head of business development in Korea.


IQ-EQ will acquire Singapore-based ComplianceAsia and Lymon in an agreement announced in late June.

ComplianceAsia, a compliance consulting firm and one of the largest firms operating in the region, was founded by Philippa Allen in 2003.

Philippa Allen

Lymon was founded in Singapore by Managing Director Yishan Lee in 2013 to provide regulatory compliance services for financial institutions in Singapore.

Allen will become managing director, head of regulatory compliance, Asia at IQ-EQ.

She will report to Michael Marquardt, regional CEO, Asia.

Lee, founder and managing director of Lymon becomes managing director, regulatory compliance, Singapore. Lee will report to Allen.

Alex Duperouzel, managing director of ComplianceAsia, will leave the business after a short transition period.

Yishan Lee

The newly combined team of 101 employees will operate across the Asia Pacific.

ComplianceAsia and Lymon will continue using their brand names, and their logos will be adapted to include “part of IQ-EQ”.

IQ-EQ provides a range of compliance, administration, asset and advisory services to fund managers, multinational companies, family offices and private clients operating worldwide.

The firm works with 15 of the top 20 global private equity firms.


Trevor Maitland

Real estate services firm Cushman & Wakefield has added senior hires to its capital advisory business in Australia and Greater China.

In Australia, Trevor Maitland was appointed national senior director of Capital Advisory, Australia and New Zealand (ANZ), effective early May.

Based in Melbourne, he reports to Guy Bennett, managing director of commercial real estate in ANZ, a spokesperson told AsianInvestor.

Maitland joined from ANZ Banking Group where he was a regional executive.

ANZ Banking Group declined to comment on AsianInvestor’s inquiries about when Maitland left the firm and who has taken over his responsibilities.

Vincent Marotta

Vincent Marotta also joined the firm as national director of capital advisory in ANZ, effective April. Also based in Melbourne, he reports to Maitland, the spokesperson said.

Marotta previously worked at GE Capital, ANZ Bank and Deloitte before starting his own commercial debt advisory business, Red Deer Capital, in February 2022.

Canon Yau

In Hong Kong, Canon Yau has been appointed managing director of capital advisory in Greater China, effective February. Yau reports to KK Chiu, chief executive of Greater China.

Alvin Yip, president of capital markets in Greater China, previously oversaw Yau’s role.

Prior to joining Cushman & Wakefield, Yau was head of product and client management for Schroders Capital in Asia Pacific.

Schroders did not respond to AsianInvestor’s inquiries about when Yau left the firm or who has taken over his role’s responsibilities.

Prior to Schroders, Yau worked at CBRE Capital Advisors and the real estate division of Invest AD - Abu Dhabi Investment Company.



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