Standard Chartered has been hiring for its structured finance team in Singapore with the appointment of a new director who has regional responsibilities. Soon Huat Tng joined Stan Chart last month as a senior transactor covering ASEAN countries, according to his LinkedIn profile. He previously worked in structured commodity finance at ANZ.
The job market in structured finance, however, is generally “flat” in Asia, says a Singapore headhunter, who asked not to be named.
“This was more of an opportunistic hire. Since ANZ is exiting some of its Asia businesses, Tng became available and Stan Chart brought him in,” says the headhunter, who has knowledge of the job move.
He adds that Tng has a “very good reputation” in his field and has excellent connections in Indonesia, a key market for ASEAN-focused bankers.
Stand Chart would have also liked the fact that Tng’s department head at ANZ was Philippe Touati, a former SCB managing director and co-head of its wholesale bank until 2012, says the headhunter.
And Tng also boasts experience across several products. He describes himself in his online profile as the banker equivalent of a “mixed martial-art artist” and as “one of the few active market practitioners with experience in the full suite of bank debt instruments (transactional, corporate, structured trade, project and export finance)”.
At ANZ, Tng originated and led the first lead-left syndicated structured trade finance deal for the bank in Asia, according to his LinkedIn profile.
Tng has taken just over 10 years to reach director. He started his finance career at Fortis Bank in November 2006, and then moved to a structured commodity finance job at Deutsche Bank in Singapore in 2010.
Before joining ANZ in 2013, Tng worked in commodity-linked and export-credit financing at J.P. Morgan, according to his profile.
Tng is among a growing cohort of former ANZ employees who’ve left the Australian firm – either of their own accord or because of layoffs – over the last few months as it scales back its Singapore operations.
Stan Chart has taken on other ANZ managers recently, including Jodie Arthur, who is now its regional head of financial crime compliance for ASEAN and South Asia.
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