UOB has hired senior regulatory specialist and Standard Chartered veteran Charmaine Chow to head up group compliance for its digital bank.
Chow joined UOB as an executive director last month, in a move that demonstrates the firm’s growing clout in the local job market.
UOB has managed to prise Chow away from Stan Chart, a larger and more international bank, where she’d held several senior positions.
The NUS law graduate joined the Stan Chart in April 2005 in a legal role and in 2010 became head of legal and compliance for integrated distribution, according to her LinkedIn profile.
Four years later Chow was put in charge of compliance for Stan Chart’s business clients. She added anti-bribery and corruption (within the bank’s financial crime risk mitigation programme) to her leadership responsibilities in 2015, according to her profile.
OCBC and DBS – UOB’s two local rivals – have been increasingly recruiting from global banks for the past few years and have also taken on bankers from the Asian wealth units that they have recently acquired from Barclays and ANZ respectively.
Compliance is one of the main functions in which Singapore banks are now better able to attract talent from international firms, say recruiters. Earlier this quarter, for example, DBS hired Moon Wang from Morgan Stanley as its new Hong Kong head of financial crime and security services.
UOB is the smallest of the three domestic banks by assets. “It’s also traditionally been regarded as less aggressive when it comes to hiring from competitors – but there are signs this is changing,” says a Singapore banking recruiter.
Chow joins UOB as it expands its digital banking operations and rolls out new products such as the Mighty e-wallet app.
She has history in tech compliance, however. Her first job at Stan Chart was as group legal adviser for technology.
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