A Standard Chartered managing director and 11-year veteran of the firm has become the latest banker in Asia to join a local technology company.
Han Siang Peter Lim left his Hong Kong-based position as head of China corporates within Stan Chart’s corporate and institutional banking division earlier this month, according to his public profile. He is now a managing director and shareholder at MoovPay, an online payments company, in Hong Kong and also holds a director position in the firm’s Singapore office.
MoovPay, which was established in 2014 and is headquartered in both Singapore and Hong Kong, processes business-to-business and business-to-consumer payments across Asia.
Lim is not the only banking professional that MoovPay has taken on. Last year, for example, it hired Noor Bank relationship manager Steven Li as director of channel distribution in Singapore. MoovPay’s management team has more than 150 collective years of financial, technology and payments experience, according to the company’s website.
Li and Lim are among a growing group of front-office banking professionals to have recently shifted to Asian tech firms. As we reported last month, Gary Wong, a former head of strategic partnerships at OCBC has joined Singapore tech firm Grab as head of mobile-wallet app GrabPay.
In Hong Kong, Chinese tech titans Alibaba and Tencent are also hiring bankers into senior management roles, primarily within their corporate development and M&A teams. The brain drain to tech companies, which are perceived to offer less stuffy working environments than banks, is now a serious threat to banks’ operations in Asia, according to in-house recruiters who attended a recent eFinancialCareers roundtable.
Lim joined Stan Chart in 2007 as regional head of financing solutions, a position he held until January last year, when he assumed his China corporates role. Since leaving Stan Chart he has also become chairman at Asia Capital Pioneers Group, a private equity and management consulting firm.
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