Kenneth Yeoh, the former chief executive officer of RHB Securities Singapore, has resurfaced at OCBC as head of bond origination, capital markets. He reports into Tan Kee Phong, head of capital markets, according to a spokesperson for OCBC.
Yeoh joined RHB in Singapore in February 2013 as head of fixed income, and was appointed Asia DCM head (covering Singapore, Thailand, Indonesia and Hong Kong) in 2015. He took on the CEO job at the Malaysian firm in July 2016 and left RHB in August last year, according to his LinkedIn profile.
While Yeoh’s new bank, OCBC, is not a major player in pan-Asian DCM, it ranks a respectable seventh for first-half DCM revenue by bank in its core Southeast Asia market (although that’s down two places year-on-year), according to Dealogic. Standard Chartered dominates the table with an 11.6% market share, but OCBC’s 4.4% share puts it ahead of local rival UOB and global firms such as BNP Paribas and Barclays.
Yeoh is one of Singapore’s most senior DCM bankers. Prior to RHB he was the Singapore-based head of debt capital markets for Southeast Asia at ANZ between 2010 and 2013. He spent the previous eight years at Standard Chartered, latterly as head of DCM for Singapore.
Yeoh has joined OCBC as it tries to boost its capital market efforts in China’s Greater Bay Area (GBA), the economic region comprising Hong Kong, Macau and several cities in the Guangdong province. This time last year, the bank was involved in 10 GBA international bond transactions worth US$8.4bn. “The growth potential of the Greater Bay Area remains significant and undeniable,” Yeoh’s boss Tan told the Business Times.
OCBC does not have any full-time DCM jobs on its careers website, but if you’re a student in Singapore, the firm is offering a lengthy DCM internship (January to June 2020) that could potentially lead to a role in Yeoh’s team after you graduate. You’ll be helping Yeoh and his colleagues prepare client pitches and daily market updates. You’ll also be developing databases to analyse market trends, and assisting in the execution of live transactions, including preparing sales memos and roadshow logistics.
Image credit: Annie Spratt, Unsplash
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