A senior banker in Singapore, who started her career as a Silicon Valley technologist, has quit the banking sector to move back into tech. Yue Wang, who left her front-office senior director role at UOB in May, has resurfaced at Positive Energy Community, a Singapore-based renewables trading start-up, according to her public profile.
The company describes itself as a “platform for renewable energy accumulation and distribution that enables power-sharing within a micro-grid”. It lets people who have surplus power sell or exchange it directly with others, in an effort to remove barriers to participation in the renewable energy market.
Wang is the only person at Positive Energy, which has an eight-strong team, with banking sector experience. The firm is now hiring for product development, marketing and technology roles.
Her move marks a return to a technology firm after 11 years in structuring roles in investment banking. The American national and Singapore permanent resident began her career in 1999 and then worked for five years in Java-development and project-lead jobs at several Silicon Valley start-ups. In 2004, Wang founded BayBreeze Software, an object-relationship mapping company based in San Jose, California.
Two years later, however, Wang moved to Hong Kong for her first job in banking: an associate in quantitative product engineering, global markets equity, at Deutsche Bank. By January 2008, less than 24 months into her banking career, Wang became head of pricing for Asia ex-Japan equities and derivatives within BNP Paribas’ global structuring group in Hong Kong.
Wang stayed with the German bank for only seven months before moving to Singapore, where she worked in structured commodities for Morgan Stanley and then Barclays. She joined UOB in 2013 and focused on structuring “cross-assets products for both investment and hedging purposes”, according to her profile.
UOB, meanwhile, has been hiring in structured finance. Last month it took on Alvin Wong from DBS as a director in structured finance within its global financial institutions group. The structured finance GFIG team is headed up by Wong’s former DBS colleague Simon Tan, who moved to UOB in July.
Wang is not the only banker in Asia to have joined a technology firm recently. In November, Jeff Chen, head of technology investment banking for Asia Pacific at HSBC, joined Chinese online healthcare firm WeDoctor as its chief strategy officer after 14 years in banking.
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