UOB has hired one of Singapore’s most experienced structured finance specialists from rival DBS. Simon Tan has joined UOB as a senior director and head of structured finance in its global financial institutions group, according to his online profile.
When hiring for senior positions, Singapore’s three local banks – UOB, DBS and OCBC – often “look to each other” before considering staff from the likes of Standard Chartered and Citi, says a headhunter in the Republic.
Tan was at DBS from October 2009 to June this year, latterly as an executive director and second in charge in the structured debt solutions unit, responsible for overseeing the team’s performance objectives. He specialised in transactions such as covered bonds, asset-backed and synthetic securitisation, and collateralised debt and loan obligations.
Prior to DBS, Tan headed the Asian business of the financial structuring group at RBS for almost two years, based in Singapore and Hong Kong.
Tan’s first dedicated structured finance job was a Rabobank, where he worked between 2001 and 2004, spearheading new product development. He then moved to Macquarie as a vice president in Asia financial products, eventually heading up his team.
He started his career as a tax associate at PwC in 1993 and broke into banking two years later at Westpac in Singapore, working in corporate finance.
While the job market in Singapore structured finance remains generally subdued this year, Tan is not the only senior person to have moved jobs in the sector recently. In April, as we reported at the time, Standard Chartered hired Soon Huat Tng from ANZ as a senior transactor covering ASEAN markets.
UOB has also been hiring in corporate finance. It recruited the well-connected banker (and wine-bar owner) Elizabeth Lin from One North Capital in June.
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