Key market themes

The slowdown in hiring that occurred in the 4Q18 has remained in place for much of 1Q19. As highlighted in our last quarterly review, 2019 is set to be a challenging, and for many a frustrating year, as enablement, control and infrastructure leadership wrestle with managing the competing demands of growing and professionalising functions in support of evolving and growing businesses. This is being done not only in a cost constrained environment but a time when required skills, experience and qualities across most functions remains in flux.

Over the last three months Leathwaite has released its annual global surveys for the CFO, Audit, Tax and Legal sectors. These surveys have highlighted a number of consistent themes which are likely to continue to inform hiring requirements and decisions through the course of the year.

Evolving business operating models, particularly within digital banking, insurance and wealth management sectors, are changing the way that enablement and control functions need to support their business partners and highlighting the need for broader and deeper understanding of technology within all functions. It is further raising questions of whether existing resources are appropriately aligned or have the required skill-set to effectively support the business. As leadership reflects on how existing resources are redeployed and retooled, talent acquisition strategies will reflect the need to incorporate external talent with broader capability and diversity of experience. Within audit, as an example, we would expect to see continued focus on audit specialists with cyber, data and robotics experience. Across all functions candidates with data management and analytics experience will remain in demand.

Incorporation of technology within functions is forcing leadership to re-evaluate the performance of near and offshore resources. Through the course of the year we fully expect to see a growing emphasis on the development of COEs. With the transition of shared service centres to provide direct engagement with and services to global business, so the demand for executives on-shore who can deliver increased leadership internally and visibility and brand awareness externally will grow. In some control functions there is a growing focus on outsourcing to third parties. Notably within legal teams the use of automation and alternative legal service providers (ALSPs) will continue to be a topic of debate through the year.

Streamlining of processes, automation of manual tasks and use of shared services will no doubt help with headcount reductions but it is also highlighting the need for functional leaders to focus more on talent retention and development. As the automation of tasks becomes more widespread lower level roles will become redundant. Functional leadership will need to consider how to achieve this without losing talented junior resources and ensuring that they continue to develop leaders of the future.


  • Claudia Salem is appointed Regional CEO for Property and Casualty at Allianz. She was formerly CEO AIG Singapore and Head of Country Operations Southeast Asia.
  • Jiro Seguchi and Jin Su are appointed Co-Presidents for Asia Pacific by Bank of America, replacing Matthew Koder.
  • Geraldine Buckingham succeeds Ryan Stork as Chair & Head of APAC at BlackRock.
  • Wai-Kwong Seck is appointed CEO by Eastspring Investments succeeding Guy Strapp. He joins from State Street where he was CEO APAC. Ian Martin is appointed CEO APAC in addition to his current responsibilities as Head of Global Services APAC at State Street.
  • Anup Rau joins Future Generali Chief Executive Officer. He joins from Edelweiss General Insurance Company.
  • Calvin Foo is appointed CEO, South East Asia of JLT Private Client Services. He was formerly Regional Head of Partnership Academy of AIA.
  • Anthony Fasso is appointed by PineBridge as APAC Chief Executive Officer. He joins from AMP Capital where he was the CEO.
  • Jason Hammond is appointed CEO, Asia of QBE Insurance.
  • Raymond Yin is appointed Head of APAC for UBS Asset Management. He was previously Head of China Onshore.
  • Maaike Steinebach joins Visa as CEO of Hong Kong and Macau. She was previously CEO Hong Kong for Commonwealth Bank of Australia.
  • Alan Brown joins Vistra as Group Chief Executive Officer. He was previously CEO of Asco Group.


  • Mike Wood is appointed as CIO, Australia & New Zealand at Allianz, previously he was CIO, Institutional Banking at Westpac.
  • Evan Kotsovinos relocated to New York to become SVP, Global Head of Infrastructure at American Express. Previously, he was CIO Asia at Morgan Stanley.
  • Maile Carnegie took on new responsibilities as Group Executive, Digital & Australia Transformation at ANZ, she was previously Group Executive, Digital Banking.
  • Helen Attenborough joins AON as Executive MD, Analytics Software & Product Development, she was previously CIO, APAC & LATAM at QBE Insurance.
  • Sandeep Pandey is appointed as CIO, International Market at Bupa. He was Previously, CTO, Malaysia at AIA.
  • Gary Teh joins Great Eastern Life as MD, Group IT, he was previously a Partner at Deloitte.
  • Richard Leung is promoted to Group CTO at Hong Kong Exchanges & Clearing Limited, he was previously Deputy Group CIO.
  • Jonathan Leung is appointed as MD, IT Division at Hong Kong Exchanges & Clearing Limited, prior to that, he was COO, IT & Platform Development.
  • Dmitry Avramenko left Standard Chartered as Head of Cloud Architecture & Infrastructure and becomes CTO, PayMe at HSBC.
  • Ned Lowe joins Singapore Life as CTO, Transaction Technology. He was previously Solutions Architect, Global Financial Services at AWS.
  • Andrew Farmer becomes CIO, Virtual Bank at Standard Chartered, prior to that, he was CIO, International Financial Services at Commonwealth Bank.
  • Yuval Illuz relocated to Singapore as Global Head of Operations for Automation, Data, Privacy & Cyber at Standard Chartered. He was previously Executive GM, Chief Information Security & Trust Officer at Commonwealth Bank of Australia.
  • Julian Moneta is appointed as MD, Global Head of Wealth Management Transformation at Standard Chartered, prior to that, he was COO, Head of Wealth Management Platform at Barclays.
  • Simon Hoh joins Royal Golden Eagle as Head of Digital Architecture and R&D, he was previously Head of IT at AmMetLife in Malaysia.
  • Kim Petersen joins Vanguard as CIO, APAC, she was previously Senior Manager, Group Technology at Jetstar.

Legal, Risk and Compliance 

  • Maaike van Meer joins Aegon as General Counsel Asia. She joins from AXA Hong Kong where she was Chief Legal and Compliance Office.
  • Margaret Taylor retired from BHP Group Limited and BHP Group Plc. Caroline Cox has succeeded Margaret and assumed the role of Group Company Secretary.
  • Colin Sit joins Chubb as Senior Legal Counsel. He was formerly Assistant General Counsel and Company Secretary of Blue.
  • Aveline San joined Citibank as APAC Chief Compliance Officer. She was formerly the APAC Head of Compliance and Operational Risk Controls for UBS.
  • Kristy Huxtable joins Commonwealth Bank of Australia as General Manager Company Secretary. She joins from Suncorp Group where she was the Group Company Secretary
  • Connie Hui joins EFG Bank as Head of Compliance for North Asia. She was previously APAC Head of Asset Management Compliance and Operational Risk Control of UBS.
  • Liana Cheung joins Fidelity International as APAC Head of Legal, she joins from Allianz Global Investors where she was Head of Asia Legal.
  • Matilde Segarra joins Fidelity International as APAC Chief Risk Officer. She joined from APG Asset Management where she was Chief Finance and Risk Officer based in New York.
  • Bipin Patel joins Hong Kong Exchanges & Clearing Limited as Group Risk Officer. He joins from JPX Group where he was a Senior Advisor.
  • Errol Bong joins Liquidnet as APAC Head of Legal & Compliance. He was previously the Director of Legal and Regulatory Projects for Credit Suisse.
  • Yoanne Ho joined LIM Advisors as General Counsel. She joins from Bank of America Merrill Lynch where she was Senior Legal Counsel.
  • Kym Fortescue joins MetLife as SVP, AeJ Head of Compliance.
  • Ravi Verma joins Morgan Stanley as APAC COO Risk. He joins from NatWest Markets where he was Interim Chief Risk Officer in Amsterdam.
  • Thomas Ochensberger joins M&G Investments as Head of Compliance Asia Pacific. He joins from HPS investment Partners, LLC.
  • Danny Kan joined PingAn as Chief Counsel for Listing & Compliance. He join Linklaters as a Counsel.
  • Joshua Pieterse joined UBS as APAC Head of Asset Management Compliance and Operational Risk.
  • Beng Ti Tan joins Walmart as Chief Ethics and Compliance Officer based in Shenzhen. He previously was APAC Head of Compliance and Controls for First Data.


  • Aaron Frye is appointed APAC CFO at Allianz.
  • Andy Reynolds retired from BlackRock where he had been APAC CFO & COO.
  • Ted Pull has left Eastspring Investments where he was APAC CFO.
  • Vinodh Krishnamoorthy joins Equis as CFO from Blackstone Group.
  • Sanchit Maini is appointed Chief Financial and Operational Risk Officer, Asia of Prudential Corporation Asia.
  • Dennis Tan joins Shangri-La Group as CFO. He joined from DHL Express where he was Executive Vice President, CFO APAC.
  • Geoff Weir joins Vistra as Group CFO.

Human Resources

  • Rosalia Kwong joins BNP Paribas as Head of HR, Hong Kong. She joins from OCBC Wing Hang Bank where she was Head of Human Relationship and Resourcing Management, Retail Banking.Emma Duncombe joins Citi as Head of Recruitment, Asia. She joins from Wells Fargo where she was Talent Acquisition Lead, Asia, Enterprise Global Services and International Executive Hiring.
  • Fiona Hau joins Citadel Securities as Head of Global Recruiting. She joins from JPMorgan where she was Executive Director, APAC Head of CIB Front Office and Infrastructure Functions Lateral Recruiting.
  • Sunmeet Chahal relocated to Mumbai joining EY as Partner, People Advisory. He was previously with HSBC in Hong Kong.
  • Paul Choi joins Hong Kong Exchanges and Clearing Limited (HKEx) as Managing Director, Head of Talent Management. He joins from Goldman Sachs where he was Managing Director, Human Capital Management. 
  • Andrew Poon is appointed Head of HR Asia by Linklaters. He joins from Fidessa where he was Asia Head of HR.
  • Anina Lo is appointed as Head of HR Asia at Moody’s. She was previously Head of HR at Kenetic Capital.
  • Edward Hung joins OCBC Bank as Head of HR Hong Kong. He joins from BNP Paribas where he was HR Team Lead and Senior HRBP.


  • Vanessa Koo has been promoted Head of Banking for APAC at Barclays, she was previously Head of Greater China Banking.
  • Rajat Madhok has became Head of Commercial Bank (CCB) APAC at Citi. He was previously Head of Asian Commercial Banking for Mid-Sized Companies at the bank.
  • Alain Bernasconi is appointed COO for APAC Private Banking for Credit Suisse.
  • Han Kwee Juan is appointed Group Head of Strategy and Planning by DBS. Han Kwee was formerly Singapore CEO of Citibank.
  • Sam Ahmed left Standard Chartered as Global Head of Digital & Retail Marketing & Insights and joined Facebook as Director, Payments & Financial Services Partnerships, APAC.
  • Mark Yuen joins Fullerton Fund Management Company as Chief Business Development Officer.
  • Cynthia Lee joins HSBC as Head of Private Wealth Solutions (PWS), North Asia. She joined from JPMorgan where she was Head of Wealth Advisory for Asia.
  • Stephen Pemberton joins HSBC as Managing Director and Global Head of Direct Custody and Clearing and Broker Outsourcing Product. He joins from HIS Markit where he was APAC Managing Director of Account Management.
  • Oliver Brinkmann joins JPMorgan Chase as Head of Corporate Banking Operations in APAC. He joined from Lloyds Banking Group.
  • Chow Wan Thonh is appointed Head of Global Banking, Singapore by Standard Chartered. She was previously HSBC Global Banking Head.

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.