Key market themes

Hiring activity across the region in the first of 2018 has kept pace with the second half of last year. Again this was driven by technology transformation and meaningful succession planning with retail banking, payments, insurance and asset manager being active acquires of talent.

As has been highlighted in proceeding market updates, improving alignment of legacy technology and operations with today’s business needs, while exploring and adopting emerging technologies, digitization and automation processes remains a constant theme. Both at the regional and country leadership level, the first half of 2018 has seen a number of Chief Technology Officer and Head of Infrastructure appointments. While there remains reasonable demand for a number of specialist technology roles – data analytics, cyber security, robotics, AI – the appointment of Chief Digital Officer / Chief Innovation Officers has subsided relative to 2017.

In many sectors of financial services there is an acknowledgment that existing technology platforms need to be meaningfully overhauled and transformed before incorporating digitization and emerging technology solutions. As a result we continue to see strong demand for Project Directors / Transformation Leads who have demonstrable track records of leading and delivering large scale and complex transformation programs. Similarly, the Chief Operating Officer role continues to evolve taking on more direct ‘transformation’ accountability across large aspects of the business and we would expect demand for COOs to remain high through the remainder of the year.

The need to balance transformation and innovation with cost rationalization and efficiency has led to an increase in commercially minded and strategically orientated finance business partners. For much of 2017 hiring within finance remained focused on specialist functions but this year has seen a greater demand, both in market and at the regional level, for Chief Financial Officers. The competing demands of the organization are also leading to a broadening of the CFO function and greater alignment with operations and the COO role. Although not yet a universal theme, we are starting to discuss Chief Financial and Operating Officer roles and the expansion of the CFO role is likely to continue to be a theme through 2018.

Relatively quiet through much of 2017, we have seen a notable uptick in hiring activity within the Human Resources function in the first six months of this year. While there is steady demand for HRBPs, much of the hiring activity in the region has been focused on supporting more meaningful succession planning and more successful talent acquisition and retention initiatives. Consequently, demand remains high across talent, learning, development, diversity and culture.

While regulatory change played a significant role in senior leadership change in 2H17; legal, risk and compliance hiring in the 1H18 has been relatively junior focused. Regulatory change continues across the region and is unlikely to declined any time soon. The changes in ownership structures, notably in China, is leading to an increase in senior risk hiring activity and we would expect an uptick in senior governance and regulatory appointments in the 2H18.

In our last market update we highlighted the need for organizations to make truly transformative appointments and embrace out of sector and out of industry talent. There continues to strong interest in making such appointments although high profile success stories remain in the minority. How organizations address and manage the challenges of making such appointments is the focus of a white-paper that we look forward to sharing with you in the coming weeks.

Commercial, Corporate & Transaction Banking

  • Yat-Chung Koh has announced his retirement, he is leaving American Express where he was President, Asia.
  • Anna Mars joins American Express as President, Global Commercial Services. She was previously at Standard Chartered Bank where she was Regional CEO, ASEAN & South Asia and Head of Commercial & Private Banking.
  • Alexis George is promoted Deputy CEO & Group Executive, Wealth Australia at ANZ. She was previously the bank’s Group Executive, Wealth Australia.
  • Kevin Leong joins AXA Corporate Solutions as CEO, Asia. He was previously at Zurich as Head of Customer, Distribution & Market Development, Asia Pacific.
  • Alexander Harrison has taken on wider responsibilities at Barclays. He is now Head of Corporate Banking for Asia Pacific and Middle East, and was previously responsible for Asia Pacific.
  • Claudine Gallagher, Head of the Americas at BNY Mellon has joined the Board of Directors for US Clearing and Post-trade Infrastructure DTCC.
  • Carl Davey joins BNP Paribas as Head of Prime Brokerage Sales, Asia Pacific. He was previously with Citi as Head of Hedge Fund Sales, Asia – Investor Services.
  • Stanislas Beneteau is appointed Regional Head of the Financial Intermediaries & Corporates Client Line for the UK, Middle East & South Africa at BNP Paribas Securities Services. Stanislas was previously with Deutsche Bank where he was Global Head of Sales for Investor Services.
  • Eric Chng is promoted Head of Business Development Asia Pacific at BNY Mellon. He was previously Director and Head of Relationship Development South Asia and Korea.
  • Nyree Hu is appointed Managing Director, Capital Formation Asia at CarVal Investors. She was previously Head of Marketing, Greater China and Southeast Asia at Intermediate Capital Group.
  • Debopama Sen is appointed ASEAN Head of Treasury and Trade Solutions at Citi. She was previously Citi’s India Cluster Head for Treasury and Trade Solutions.
  • Benga Sofoluwe left Citi where he was Regional Head of Securities Lending and Delta One Sales, Asia Pacific.
  • Isao Kojima joins Citi as Head of Treasury and Trade Solutions, Japan. He joins from JPMorgan where he was Head of Treasury Services, Japan.
  • Mark Emmerson joins Commerzbank as Head of Trade Finance and Cash Management UK. He was previously with HSBC where he was Head of Global Trade and Receivable Finance UK.
  • Sergio Morita joins Credit Suisse as Head of Syndication and Distribution, APAC Financing Group. He was previously BNP Paribas’s Head of Secondary Loan Sourcing, Asia Pacific. Sergio replaces Ashish Sharma who left Credit Suisse.
  • David Lynne is appointed Global Transaction Banking, Asia Pacific at Deutsche Bank. He takes on new role in addition to his current position as Head of Fixed Income and Currencies, Asia Pacific.
  • Dirk Lubig is appointed Head of Global Transaction Banking, China and Head of Corporate Cash Management, Greater China at Deutsche Bank. Dirk replaces Mahesh Kini who has left the bank to pursue external opportunities.
  • Jeslyn Tan is appointed Deputy Head of Global Product Management at Deutsche Bank, she is based in Singapore.
  • Brenda Wong is appointed Head of Corporate Banking, Greater China at East West Bank. She was previously Head of China Corporates, South and West China at Standard Chartered Bank.
  • Jack Yuan became CEO, China at Generali China Insurance. He joined from AXA Taiping where he was Assistant President; Chief Strategy Officer; CEO Health Business Unit.
  • Weber Lo joins Hang Lung Group and Hang Lung Properties as CEO. He was previously at Citi where he was Hong Kong Chief Executive.
  • Laura Cha is appointed Chairman at Hong Kong Exchanges and Clearing. She is currently a non-official member of the Executive Council, chairman of the Financial Services Development Council, and an independent non-executive director of HSBC Holdings and Unilever.
  • Mukhtar Hussain is appointed Asia Pacific Head of Belt and Road at HSBC, he was previously HSBC’s Malaysia CEO.
  • Oki Ramadhana joins HSBC, from Morgan Stanley where he was President Director who heads up the bank’s Indonesian operations. He will be taking up a new role at HSBC.
  • Pradeep Rao is promoted Head of Corporates, Global Banking, Southeast Asia at HSBC. He was previously Managing Director, Global Banking.
  • Carlos Vazquez joins HSBC Insurance as CEO, Singapore. He joined from Manulife where he was Chief Product Officer, Singapore.
  • Marjolein de Jongh joins HSBC in London as Global Head of Transformation Global Trade and Receivables Finance. She was previously at ING in Amsterdam as Global Head of Change for Bank Treasury and Financial Markets.
  • Amy Tan is promoted Head of Debt Capital Markets Origination, Asia ex Japan at JPMorgan, she replaces Mark Follett who has been promoted to a position focusing on a newly created role that focuses on complex transactions at the bank.
  • Marie Hong joins MetLife as Head of Cash Management and Banking, Asia. She was previously Executive Director, Treasury Solutions Advisory at Standard Chartered Bank.
  • Thomas Siegmund joins NatWest Markets as APAC Head, Singapore Country Executive. He was previously Managing Director, Group Internal Audit, Investigation and Analysis at UBS AG.
  • David Kim joins Northern Trust as SVP, Head of Sales, Asia Pacific at Northern Trust. He joined from BNY Mellon where he was Managing Director, Service Executive.
  • Elodie Norman is appointed as Senior Relationship Manager, Asia ex Japan, at Nomura. She joins from ANZ where she was Head of Financial Institutions Group Hong Kong, Insurance Lead, Asia.
  • Melvyn Low joins OCBC Bank as Head, Global Transaction Banking, he joins from Citi where he was Head of ASEAN and Singapore, Treasury and Trade Solutions.
  • Ben Chan is named Regional Managing Director for Asia Pacific at Ontario Teachers’ Pension Plan. He joins from Khazanah Nasional Berhad, where he was Co-Head of Investments and led its investment activities in China.
  • Lady Ma is appointed Head of Global Corporate Client, Eastern China at Rabobank, she joined from Société Générale where she was Deputy General Manager, Senior Banker – Corporate and Investment Banking.
  • Vivienne Yu became CEO, Greater China at Saxo Bank. She joins from Commonwealth Bank where she was Executive General Manager and CEO China.
  • Shane Meredith is appointed Director, Regional Sales – Wealth and Advisory at SS&C Technologies, he was previously Head of Sales, Asset Management and Wealth Management, Asia Pacific at Thomson Reuters.
  • Barnaby Nelson left Standard Chartered Bank as Head of Securities Services, Greater China and North Asia. A replacement is yet to be announced.
  • Caroline Lacocque joins Standard Chartered Bank as Director, Transaction Banking, Digital Trade Product. She was previously with KPMG – Advisory and Risk Consulting.
  • Lucy Taylor-Smith joins Standard Chartered Bank as Global Head of Strategy. She was previously at Manulife where she was Chief Strategy Officer, Asia.
  • Inhwan Oh is promoted to Head of Global Market Sales, Asia Pacific, at Société Générale. Prior to this role, Inhwan was Head of Global Market, Korea.
  • Yankun Hou is promoted Asia Pacific Head, Global Industrials Group, Investment Banking at UBS, he was previously the Chief China Strategist.
  • Cameron Meindl is promoted Head of Digital Institutional Bank at Westpac Institutional Bank. He was previously the bank’s Head of CIB and GTS Technology.
  • Roger Steel joins Willis Towers Watson as Managing Director, Hong Kong and Macau. Roger was formerly President, New Markets and Business Development, Asia at Sun Life Financial.
  • Rainer Fuchsluger joins Wolters Kluwer as Managing Director, Asia Pacific. He was previously at SS&C where he was Regional Managing Director, Asia.
  • Sabina Fung joins Zheng He Capital Management Limited as Managing Director. She was Chief Marketing Officer at Aviva.

Technology & Operations

  • Mark Seifried joins AIA International as CTO. He was previously at Amazon Web Services as Head of Business Development, Insurance Sector, Hong Kong and Taiwan.
  • Youngran Kim joins Allianz as Regional CIO, Asia Pacific. He was previously CTO, Asia Market at AXA, and relocated from Hong Kong to Singapore for the role.
  • Satyam Das is appointed Director, Risk ORC ICT, APAC Regional Head, Operational Resilience and Crisis Management at BNP Paribas. Satyam joined from Blackrock where he was APAC Head, Global Enterprise Security.
  • Sampath Dhamodaran was promoted Head of Information Technology at CIMB Bank Singapore. He was previously the bank’s Head, Group Technology Services & Enterprise Architecture, Strategic Solution.
  • Surrey Mui joins Credit Suisse as APAC CISO from BNP.
  • John Ansley has left Essential Energy where he was CIO.
  • David Gee joins HSBC as Head of Cyber Security, Asia Pacific. He was previously at MetLife Asia as Statutory Executive Officer, Senior VP & CIO (Japan).
  • Gery Messer joins IBM as General Manager, Asia Pacific – Global Technology Services. He was previously Managing Director, Asia Pacific at CenturyLink.
  • Janice Chua was promoted Managing Director, Head of Asian Operations at MUFG Bank, she was previously the bank’s Deputy General Manager, Asian Operations Division.
  • Nicole Sheffield has left News Corp where she was Chief Digital Officer.
  • Robin Spencer joins Prudential Corporation as COO, Asia. He joins from NN Group in the Netherlands where he was CEO International Insurance.
  • Ashwin Chak joins Mizuho as Managing Director, COO. He was previously at HSBC where he was COO, Fixed Income – Asia Pacific.
  • Sarv Girn joins MLC Life Insurance as Chief Innovation and Transformation Officer. He joins from The Reserve Bank of Australia where he was CIO.
  • Tony Forward, CIO, is leaving as part of QBE’s restructure. 
  • Ian Jansen is appointed Chief Digital and Product Officer at Service NSW. He joins from Department of Industry.
  • Eduard Fabian is appointed Asia Head of Technology, CIO at Sun Life Financial. He joins from United Overseas Bank where he was Managing Director, Group Technology Head.
  • Robyn Elliott joins Stockland as Chief Technology and Innovation Officer. She was previously Fairfax Media’s CIO.
  • Jack Blayney, Victoria Police’s CIO, is set to retire end of the year.
  • John Romano has left Telstra where he was CIO and Chief Digital Officer.
  • Ian Frew joins The National Disability and Insurance Agency Melbourne as CIO. He was previously Director, Core Platform Engineering at IAG.
  • Jamie Norton joins The Australian Taxation Office as CISO, Information and Cyber Security Assistant Commissioner. He was previously with NEC Australia as Cyber Security Head.
  • David Whiteing, CIO, has left The Commonwealth Bank as part of a restructure.
  • Greg Wells is appointed by The NSW Government Department of Finance as its whole-of government Chief Information and Digital Officer. Greg joins from NSW Health where he was CIO.
  • Gayan Benedict was promoted CIO at The Reserve Bank of Australia. He was previously the Deputy Head of Technology Services.
  • Bettina Konti joins The ACT Government as Chief Digital Officer. She previously worked within the Department of Health.
  • Prashant Parashar joins Zomato in India as CTO. He was previously with Snapdeal as AVP, Engineering.

Human Resources

  • Maggie Zhang is promoted to CHRO, International at AIG. She was previously AIG’s Regional Head of HR, North Asia, MENA and Africa.
  • Faustina Chiu became Head of Human Resources, Asia Pacific at Banco Santander. She was previously with BNY Mellon as Head of Human Resources, Asia Pacific.
  • Mohit Seth joins BFAM Partners as Head of Human Resources. Mohit was previously APAC Head of Talent for Manulife.
  • Sian Hooper is appointed Human Resources Business Partner, Financial Products APAC at Bloomberg. She was formerly Head of Human Resources, Asia at DLA Piper.
  • Ng Ying Yuan joins DBS Bank as Chief Learning Officer. She was previously with PSA International as Senior VP, Innovation and Change Management.
  • Mark Staglieno joins HSBC as Head of Resourcing, Asia Pacific. He was previously Senior Director, Talent Acquisition, Asia Pacific at GE.
  • Anina Lo joins Kenetic as Head of Human Resources. She was previously at BlackRock where she was Head of Talent Acquisition Asia.
  • Anish Lalchandani is promoted to become Global Head of Talent, Learning and Culture Optimisation, and Lead of Executive Talent Management at Standard Chartered Bank. Anish was previously the bank’s Global Head Talent & Succession Management.
  • Jane Ho joins UBP as HR Director, she was previously at ABN AMRO as VP, Human Resources Business Partner.
  • Kate Aiken joins Westpac as General Manager Human Resources for Institutional Banking. She was previously Co-Head, Human Capital Management Asia Pacific at Goldman Sachs.


  • Koo Chung Chang is appointed CFO, Singapore at AIA. He was previously the Chief Strategy Officer and is replaced by Chiew Ai Chin, who was previously Head of Strategy and Transformation.
  • Naohiro Mouri is promoted Executive VP and Chief Auditor at AIG. He was previously AIG’s Senior Managing Director of Asia Pacific Internal Audit.
  • Rob Jesudason resigns from Commonwealth Bank as CFO. He will take on an external role in Hong Kong.
  • Elynn Teo joins GIC as Senior VP Finance, Elynn joins from The Blackstone Group where she was Senior VP, Real Estate Finance.
  • Alistair Chamberlain joins HSBC as Global Head of Product and Actuarial, he joins from AIA where he was CFO, Singapore.
  • Raymond Fong joins Fidelity International as APAC Head of Audit. He joins from Prudential Assurance where he was the Director of Audit.
  • Kenneth Rappold joins Manulife as CFO, Asia. He joins from Aviva where he was CFO, Asia.
  • Mark Oh joins Nomura as Head of Tax, Asia ex Japan. He joins from BlackRock where he was Head of Tax, Asia Pacific.
  • Soong Khim Oon joins Swiss Re as CFO Reinsurance Asia, from Aviva where he was Strategy & Transformation Director, Asia.
  • Lawrence Tsang left VISTRA as Group CFO.

Governance – Legal, Risk and Compliance


  • Kevin Corbally has been named ANZ’s Group CRO, reporting to the lender’s chief executive, Shayne Elliott. In his new role, Corbally will be a member of the group executive committee, and responsible for overseeing the bank’s risk strategies, policies and processes. He will replace Nigel Williams, who is retiring from ANZ.
  • Maverick Tam becomes CRO for Hong Kong Interbank Clearing. He was previously the Head of Internal Audit.
  • Roland Chai becomes Group CRO for Hong Kong Exchanges and Clearing. HKEX said Chai would have oversight of risk at the London Metal Exchange and its clearing house LME Clear, both of which are owned by HKEX. He will be in charge of credit and quantitative analysis, HKEX said, and will be replacing CIO Trevor Spanner.
  • Kai Lee Tse joins QBE as CRO, Asia Pacific. He joins from Berkshire Hathaway Specialty Insurance where he was CFO and COO, Asia and Middle East.
  • Paul Kwee is appointed China CRO and China Credit Officer – Corporate, Institutional & Commercial Banking at Standard Chartered Bank. He was previously Chief Credit Officer – Global Commercial Real Estate, Corporate Institutional & Commercial Clients based in Singapore.


  • David Cullen has appointed as new group General Counsel at Australian banking Group. Cullen replaces in-house lawyer Brian Salter, who resigned last month.
  • Darrell Chan has been hired by Airbnb as APAC Deputy General Counsel. He joins from Discovery Communications, where he led the APAC corporate legal and regulatory affairs teams. Chan will be based in Singapore, which serves as Airbnb’s APAC headquarters.
  • Frederique Gilain-Huneeus joins BFAM Partners as Head of Legal. She joins from Goldman Sachs where she was Head of Equity Legal, Asia Pacific.
  • Neil Olofsson joins HSBC as APAC Company Secretariat and Governance. He was previously Group Head of Compliance and Company Secretary at Brookfield Multiplex.
  • Andrew Chung joins Linklaters as a Disputes Partner. He joins from Goldman Sachs where he was a Managing Director responsible for disputes and regulatory matters across Asia Pacific.
  • Eva Chow was appointed Head of Legal for Prudential Hong Kong. She was previously Senior Regional Legal Counsel supporting Prudential Corporation Asia’s Insurance and Asset Management businesses in Asia.


  • Chaly Mah has appointed to the Monetary Authority of Singapore board of directors. He was formerly chief executive of Deloitte Asia-Pacific and Deloitte South-east Asia, in addition to his role as chairman of Deloitte Singapore.
  • Julia Leung has been re-appointed by The Securities and Futures Commission (SFC) as Executive Director (Intermediaries). In addition, she will act as Deputy CEO of the SFC.

    Please send me a PDF version of Leathwaite's APAC appointments reports:

    Your Name (required)

    Your Email (required)

    Please indicate which functional report most accurately reflects your area of work:

    When did you last benchmark your compensation package?

    Leathwaite has launched The Pay Index – a free to use crowd-sourced compensation tool just for senior executives.

    With pay equity legislation being implemented across North America, such as New York’s Intro 1253-A and California’s AB-168, the need for crowd-sourced databases, such as The Pay Index, are essential in helping individuals and companies understand executive compensation.

    It takes less than 5 minutes to anonymously share a number of data points and then compare your compensation against the local and global market through several unique interactive reports.

    The Pay Index also includes a cost of living comparison tool so you can easily see what you need to earn in another city for the same standard of living.

    Visit The Pay Index now to ensure you know your current market worth.