Veteran Citi managing director departs for top job at Temasek subsidiary

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Veteran Citi managing director departs for top job at Temasek subsidiary

Citi managing director Jan-Peter Onstwedder has left the bank to join Temasek-owned Pavilion Energy as its Singapore-based head of risk and technology.

Onstwedder had been with Citi since 2011, according to his LinkedIn profile. He was responsible for market and credit risk for global commodities trading, and for credit risk spanning four global industries: power, energy, chemicals, and metals and mining.

He was based in London and managed teams there and in Singapore, New York and Houston. Onstwedder was also co-chair of the new product approval committee for Citi’s EMEA markets business.

Pavilion Energy, Onstwedder’s new employer, was launched in 2013 by Singaporean sovereign wealth fund Temasek and is focused on LNG-related investments. The firm is currently hiring and has six vacancies in Singapore, including for a structured trader and an energy markets analytics manager.

Onstwedder is not the only person from a banking background who’s now working for Pavilion. Late last year, for example, it hired Tienleong Tan, the former head of Asia energy trading at Commonwealth Bank, as a VP in financial products and hedging. Xiaoqiang Guo, also from Commonwealth, joined as a VP in quantitative analytics around the same time.

Pavilion supplies natural gas for one-third of Singapore’s industrial requirements, including for the power generation, petrochemical, biotechnology, pharmaceutical and manufacturing sectors.

Prior to Citi, Onstwedder spent about two and a half years as head of portfolio and risk at private equity firm 3i. He started his career with an initial stint at Citi back in 1985 and became group head of market risk at RBS 10 years later. Onstwedder headed up risk for supply and trading at BP from 2001 to 2006,  and built the function from scratch to eventually house 50 professionals.

Image credit: Michael Schiffer, Unsplash

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