Asia Financial Markets
Forum 2021 Prelude

Organised by ACI Singapore – The Financial Markets Association

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Programme

Event Opening

1.00pm – 1.55pm

Registration

2.00pm – 2.05pm

Introduction by
Mr Andrew Ng

2.05pm – 2.25pm

Keynote Speaker Ms Jacqueline Loh, MAS

Panel 1: 2.30pm – 3.25pm

Geopolitical Chessboard

In the last few years, trade wars and the geopolitical rivalry between US and China have dominated our markets but 2020 has been dominated by COVID and how the different countries have responded to the crisis. In 2021, as the world recovers from COVID and the new US administration comes into power, do we expect the structural tensions between the two superpowers of US and China to resurface? What form will it take and what are the flashpoints for the tension to emerge. What are some of the smart ways that investors can position for these trends?

Panelists:
Mr Cesar V. Purisima
Former Secretary of Finance
Republic of the Philippines 

Mr Adam Levinson
Managing Partner & Chief Investment Officer
Graticule Asset Management Asia

Professor Bernard Yeung
Stephen Riady Distinguished Professor in Finance and Strategic Management
National University of Singapore
President, Asian Bureau of Finance and Economic Research

Mr Stephen Chang
Executive Vice President and Portfolio Manager
PIMCO

Moderator:
Mr Heng Koon How
Head of Markets Strategy, Executive Director
Global Economics and Markets Research

United Overseas Bank (UOB)

Panel 2: 3.30pm - 4.15pm

Financial Markets Business of the Future

What does the future of the financial industry look like? In 2020, COVID has presented many challenges for the financial services industry but has also presented some opportunities for learning, in particular, it has accelerated the trend towards digitisation. How will the industry keep moving  forward on its digital transformation journey which has been accelerated by COVID? What other changes are likely and how should the industry leaders prepare themselves?

Panelists:
Mr David Gurlé
Founder and Chief Executive Officer
Symphony Communication Services, LLC.

Mr Mark Wong
Chief Operating Officer and Chief Risk Officer
Dymon Asia Capital

Mr Riad Chowdhury
Head of APAC
MarketAxess

Moderator:
Mr Paul Debourdeau
Director, Head of eFICC Sales APAC, Markets and Securities Services
The Hongkong and Shanghai Banking Corp Ltd

Panel 3: 4.20pm - 5.05pm

Sustainability for Banks and Financial Services

ESG issues have moved from being a niche activity in many organisations to becoming more mainstream. Europe has led the development of this movement and is Asia, the progress has been fragmented and different regions have been moving at different speeds. However, policy makers in Asia and financial services industry can make a meaningful impact in this field through financing and investing of businesses that embed ESG thoroughly across their business models. Do we have the requisite tools and the data to measure and analyze good performance ? And what are the consequences if we get this wrong?

Panelists :
Ms Cherine Fok
Director, Sustainability Services
KPMG

Ms Deborah Ho
Country Head Singapore and Regional Head of Southeast Asia
BlackRock

Ms Luanne Sieh
Senior Managing Director, Head Group Sustainability and Corporate Responsibility
CIMB Group

Mr Ritesh Maheshwari
Managing Director – Head of Market Outreach (APAC)
S&P Global Ratings

Moderator:
Mr Marc Lansonneur
Managing Director, Head of Managed Solutions and Investment Governance
DBS Bank

Event Closing

5.10pm

Closing Remarks:
Mr Samuel Koh

Keynote Speaker

Ms Jacqueline Loh

Deputy Managing Director
(Markets & Development/Corporate Development) of the Monetary Authority of Singapore

Speakers

Mr Cesar V. Purisima

Former Secretary of Finance
Republic of the Philippines

Mr Adam Levinson

Founder, Managing Partner and Chief Investment Officer
Graticule Asset Management Asia (GAMA)

Mr Andrew Ng

President,
ACI Singapore
Group Executive, Head of Treasury and Markets,
DBS Bank

Professor Bernard Yeung

Stephen Riady Distinguished Professor in Finance and Strategic Management
National University of Singapore President, Asian Bureau of Finance and Economic Research

Ms Cherine Fok

Director,Sustainability Services
KPMG IMPACT

Mr David Gurlé

Founder and Chief Executive Officer
Symphony Communication Services, LLC.

Ms Deborah Ho

Country Head Singapore and Regional Head of Southeast Asia
BlackRock

Mr Heng Koon How

Head of Markets Strategy, Executive Director Global Economics and Markets Research
United Overseas Bank (UOB)

Ms Luanne Sieh

Senior Managing Director, Head Group Sustainability and Corporate Responsibility
CIMB Group

Mr Marc Lansonneur

Managing Director, Head of Managed Solutions and Investment Governance
DBS Bank

Mr Mark Wong

Chief Operating Officer and Chief Risk Officer
Dymon Asia Capital

Mr Paul J Debourdeau

Director, Head of eFICC Sales APAC, Markets and Securities Services
The Hongkong and Shanghai Banking Corp Ltd

Mr Riad Chowdhury

Head of APAC
MarketAxess

Mr Ritesh Maheshwari

Managing Director
Head of Market Outreach, Asia-Pacific
S&P Global Ratings

Mr Stephen Chang

Managing Director and Portfolio Manager
PIMCO

Mr Samuel Koh
Chairperson
AFMF Organising 
Committee

Head of Global Treasury Trading
OCBC Bank Ltd

Mr Samuel Koh joined OCBC Bank in April 2013 as a Head of Interest Rate Trading and is currently the Head of Global Treasury Trading. With more than thirty years of experience in the financial market, he has been a thought leader at various stages of the development in the emerging markets in Asia. He started his career with Citibank Singapore in 1990 and has worked in various capacities in Citibank, Pacific Asset Management and OCBC Bank in Singapore, as well as HSBC and Bank of China in Hong Kong.

During the span of his career, he was involved in the development and trading of Asian regional currencies Interest Rate and FX Derivatives. In 1998, he transacted the first interbank Singapore Dollar interest rate option contract. On top of that, he spends time training and mentoring the newer generations of financial market professionals across many countries. 

Mr Koh is currently the Deputy President of The Financial Markets Association (ACI) Singapore.  Within the organisation, he promotes the welfare and education of financial market practitioners in Singapore.  He was the Chairman of the ACI Charity Golf which raises funds for charity organisations in Singapore in 2007, 2008 and 2017. He was awarded the 2019 Institute of Banking and Finance, IBF Fellowship Award, recognising his contribution to the financial industry in Singapore.

Mr Koh holds a Bachelor of Business Administration from the National University of Singapore and a Masters in Applied Finance from Macquarie University Australia.

Ms Jacqueline Loh
Deputy Managing Director,
(Markets & Development/Corporate Development) of the Monetary Authority of Singapore

Ms Jacqueline Loh Wai Yin is the Deputy Managing Director for Markets & Development as well as Corporate Development in MAS.  She oversees the Markets and Investment, Development and International, as well as the FinTech and Innovation Groups.  Ms Loh also oversees the Organisation & People Development, Technology, and Finance, Risk & Currency Groups.

Jacqueline joined the MAS in 1987, after graduating with a Master of Business Administration from the University of Washington.   She has experience in several functions across MAS, including as Assistant Managing Director in charge of the Prudential Policy, Macroprudential Surveillance and Specialist Risk Supervision Group. Between 1990 and 1994, Jacqueline worked in MAS’ New York Office.

Jacqueline is a Member of the Executive Committee of the ASEAN+3 Macroeconomic Research Office and the Institute of Banking & Finance Council.  She serves on the HDB Board and the Board of Trustees at the Wealth Management Institute. Jacqueline is also a Member of the Board of Trustees of pension savings schemes in a couple of Ministries, and is the Chairperson of the Singapore Clearing House Association.

Jacqueline was awarded the Public Administration (Silver) Medal in August 2010 and Public Administration (Gold) Medal in 2018.

Mr Cesar V. Purisima
Former Secretary of Finance
Republic of the Philippines

Cesar Purisima is an Asia Fellow of Milken Institute, a global non-profit, non-partisan think tank. He is a founding partner at IKHLAS Capital, a pan-ASEAN private equity platform.

He currently serves on the boards of the AIA Group, World Wildlife Fund-Philippines, De La Salle University, Ayala Land, Universal Robina Corporation, Jollibee Foods Corporation, and the International School of Manila. He is a member of Sumitomo Mitsui Banking Corporation’s Global Advisory Council and Singapore Management University’s International Advisory Council in the Philippines.

From 2010 to 2016, Purisima was the Secretary of Finance of the Philippines and the Chair of Economic Development Cluster of the President’s Cabinet. He briefly served as Finance Secretary in 2005 and Trade and Industry Secretary from 2004 to 2005. Additionally, he was a member of the Monetary Board of the Philippines Central Bank, and the Governor for the Philippines at the Asian Development Bank and the World Bank. He served as Alternate Governor for the Philippines at the International Monetary Fund. Under his leadership, the Philippines received its first investment-grade ratings. He was named Finance Minister of the Year seven times in six consecutive years by a number of publications, a first for the Philippines.

Prior to his stints in the government service, he was the Chairman & Country Managing Partner of the Philippines’ largest professional services firm SGV & Co., and was a member of the Global Executive Board and Global Practice Council of Ernst & Young. Purisima obtained his Bachelor of Science degree in Commerce Major in Accounting and Financial Institutions from De La Salle University in 1979. He earned his Master of Business Administration degree from Kellogg School of Management, Northwestern University, Illinois in 1983. He was conferred a Knight in the National Order of the Legion of Honour by the French Republic (Chevalier dans l’Ordre National de la Legion d’Honneur) in 2017. In 2016, Purisima was awarded the Order of Lakandula with the rank of Grand Cross (Bayani) for his contributions to the Philippine economy. The Order of Lakandula is one of the highest civilian honors conferred by the President of the Republic of the Philippines.

Mr Adam Levinson
Founder, Managing Partner and Chief Investment Officer
Graticule Asset Management Asia (GAMA)

Adam J. Levinson is the Founder, Managing Partner, and Chief Investment Officer of Graticule Asset Management Asia (GAMA), an independently owned Singapore-based alternative investment management firm with offices in Singapore, New York and San Francisco. Previously, Levinson was a Principal of Fortress where he co-headed the liquid markets business including founding the Fortress Asia Macro Fund. He began his career as a proprietary trader at Goldman Sachs for ten years. Levinson is a former member of the Singapore Foreign Exchange Market Committee (FXEMC) and serves on the advisory boards of Greater Pacific Capital LLP. He is also the founder of the non-profit Detroit Children’s Fund and serves on the board. He received his B.A. in Government, Magna Cum Laude, Phi Beta Kappa from Cornell University and studied abroad at the London School of Economics and Political Science.

Mr Andrew Ng

President,
FMAS
Group Executive, Head of Treasury and Markets,
DBS Bank

Mr Andrew Ng is Group Executive of DBS & Head of Treasury and Markets. He joined DBS in 2000 and was named Managing Director and Regional Head of Trading in 2005.

Since 2006, Andrew has been instrumental in leading DBS Treasury and Market’s expansion in the region. In addition, he helped build a pan-Asia trading platform on different asset classes and established a region-wide local currencies derivative capability for the bank. He has also expanded DBS’ capabilities in generic and exotic derivatives.

Andrew has worked in the treasury business for over 34 years. Prior to joining DBS, he was Executive Director at Canadian Imperial Bank of Commerce from 1995 to 1999. In that role, he set up CIBC’s trading platform and derivative capabilities on Asian currencies. Between 1986 and 1995, Andrew was Head of North Asia Trading and Treasurer of Chase Manhattan Bank in Taipei.

Professor Bernard Yeung
Stephen Riady Distinguished Professor in Finance and Strategic Management
National University of Singapore
President, Asian Bureau of Finance and Economic Research

Professor Bernard Yeung is Stephen Riady Distinguished Professor in Finance and Strategic Management at the National University of Singapore Business School.  He is also the President of the Asian Bureau of Finance and Economic Research.  He was Dean of NUS Business School from Jun 2008 to May 2019.  Before joining NUS in 2008, he was the Abraham Krasnoff Professor in Global Business, Economics, and Management at New York University (NYU) Stern School of Business and the Director of the NYU China House. From 1988 to 1999, he taught at the University of Michigan and at the University of Alberta from 1983 to 1988.

Professor Yeung has published widely in top tier academic journals covering topics in Finance, Economics, and Strategy; his writing also appears in important media publications such as the People’s Daily, The Financial Times, Economist, and The Wall Street Journal.

He won the Public Administration Silver Medal (2018) in Singapore, Irwin Outstanding Educator Award (2013) from the Academy of Management, an elected Fellow of the Academy of International Business.

Professor Yeung was a member of the Economic Strategies Committee in Singapore (2009), a member of the Social Science Research Council (SSRC) in Singapore (2016-2018) and a member of the Financial Research Council of the Monetary Authority of Singapore (2010 -2013).

Professor Yeung sits on the 3rd Advisory Board of the Antai College of Economics and Management at Shanghai Jiao Tong University, the Advisory Council of the Economics and Management School of Wuhan University and the Advisory Committee of the Institute of Economics, Academia Sinica. Professor Yeung also serves as an independent Non-Executive Director of the Bank of China (BOC) Aviation Limited since 2016.

Professor Yeung received his Bachelor of Arts in Economics and Mathematics from the University of Western Ontario and his MBA and PhD degrees from the Graduate School of Business at the University of Chicago.

Mr David Gurlé
Founder and Chief Executive Officer
Symphony Communication Services, LLC.

David Gurlé is the founder and CEO of Symphony, the secure and compliant collaboration platform used by the world’s top financial institutions to communicate internally and externally with their business ecosystem, and where solutions for B2B or B2C are built or integrated. Prior to Symphony, Mr Gurlé – who is an engineer by profession – spent some time at Microsoft and Thomson Reuters. He sits on the Monetary Authority of Singapore’s International Technology Advisory Panel and is a sought-after keynote speaker around the future of the digital workplace, collaboration technologies, workplace diversity and all matters related to privacy and information security.  Mr. Gurlé has also received the Légion d’Honneur, the highest merit a French civilian can receive. His ideas and work have influenced major trends in consumer and enterprise communications, and collaboration technology.

Ms Deborah Ho
Country Head Singapore and Regional Head of Southeast Asia
BlackRock

Deborah is regional head of the South East Asian business for BlackRock and country head of BlackRock Singapore. BlackRock is one of the world’s leading providers of investment, advisory and risk management solutions. As of end Q3-2020, BlackRock’s assets under management total US$7.81 trillion across fixed income, cash management, alternative investment, real estate and advisory strategies. Singapore is one of the major hubs for Aladdin, which is BlackRock’s operating system for investment professionals that enables every aspect of the investment process.  

Deborah is a member of the Asia Pacific Steering committee which is the senior most leadership body for BlackRock in APAC, a member of the Asia Pacific Exco which is a general management group for the region. Globally, Deborah represents BlackRock APAC on the human capital committee, which is the most senior leadership group ensuring the implementation of leadership and culture priorities of the firm. Deborah is a recognised champion for gender and cultural diversity both within the firm and in the finance industry. She is a global executive committee member of BlackRock’s global women’s initiative group.

Deborah is passionate about developing leaders in the financial services sector in Asia. She is active in contributing to the development of the financial industry in Singapore. She represents BlackRock on FCAP, MAS’ financial centre advisory panel which consists of the most senior representatives of the top financial institutions in Singapore. She is most recently focused on the development of ESG investing at BlackRock and is a steering committee member of the ESG working group at FCAP. She is regularly invited to speak on gender diversity and the championing of sustainability.

Mr Heng Koon How
Head of Markets Strategy, Executive Director, Global Economics and Markets Research
United Overseas Bank (UOB)

Heng Koon How is the Head of Markets Strategy in the Global Economics and Markets Research team at UOB, where he formulates forecasts and market views for foreign exchange (FX), commodities and interest rates.

He has more than twenty years of financial markets experience across the key asset classes. Fluent in English and Mandarin, Koon How actively participates in various investment seminars across the Asia Pacific region and is a regular commentator in key local and international print and broadcast media.

Prior to joining UOB in 2017, Koon How was a senior FX strategist at a Swiss private bank covering the Asia Pacific region. He also worked in various global financial institutions in areas such as FX options sales, derivatives advisory and commodities structuring.

Koon How graduated from the National University of Singapore with a Bachelor’s degree (Honours) in Chemical Engineering. In 2009, he was awarded the Financial Sector Development Fund postgraduate scholarship from the Monetary Authority of Singapore to attend the Yale-Singapore Management University Masters of Science in Wealth Management programme. Koon How is also a certified Chartered Alternative Investment Analyst.

Ms Luanne Sieh
Senior Managing Director,
Head Group Sustainability and Corporate Responsibility

CIMB Group

Luanne is the head of Group Sustainability and Corporate Responsibility at CIMB, one of ASEAN’s leading banking groups, where she is responsible for transforming CIMB into a shaper of sustainable finance and responsible banking practices in Asia.

Luanne has extensive experience in sustainability, strategy and transformation, as well as change management. She has been involved in a number of fields, including financial services and consulting. She was also a founding member of a startup company.

Luanne holds a Bachelor of Arts and a Master’s Degree in Manufacturing Engineering, as well as a Master of Arts from the University of Cambridge, and she is currently pursuing a Master of Liberal Arts in Sustainability at the University of Harvard Extension School.

Mr Marc Lansonneur
Managing Director, Head of Managed Solutions and
Investment Governance
DBS Bank

Marc Lansonneur joined DBS in October 2014.  Based in Singapore, he is leading the Wealth Managed Solutions and Investment Governance group.

His team of specialists cover managed products such as Funds (Unit Trusts, Private Equity, Hedge Funds), Funds Selection and Discretionary Portfolios.

Marc is a member of DBS Group Sustainability Council.

Previously Marc was working for Société Générale where he held various positions in Private

Banking, Corporate and Investment Banking in Asia, Europe and America.

He has more than 20 years of experience in the financial industry.

A French National, Marc holds a Master in Business Administration from E.S.S.E.C in Paris (France).

Mr Mark Wong
Chief Operating Officer and Chief Risk Officer
Dymon Asia Capital

Mark Wong is Chief Operating Officer and Chief Risk Officer of Dymon Asia Capital, an Asia-focused alternative investment management firm headquartered in Singapore.

Prior to Dymon, he was the Co-Head of Linear FX and Rates Trading for Asia ex-Japan at Deutsche Bank and was responsible for the market making franchise covering both onshore and offshore Asian markets. He was an EXCO member of Deutsche Bank’s Global Finance and Foreign Exchange division. Mark enjoyed a 17-year tenure at Deutsche Bank, starting as fixed income trader in London, before moving to Singapore to continue his trading career in the Asian local currency markets.

Mark is Chairperson for the Board of Ray of Hope Initiative, a crowdfunding charity that helps beneficiaries in Singapore who have fallen through the cracks and require short-term assistance. He also serves on the Board of Governors of St Joseph’s Institution International, an independent co-educational Lasallian Catholic international school in Singapore.

Mr Paul J Debourdeau
Director, Head of eFICC Sales APAC, Markets and Securities Services
The Hongkong and Shanghai Banking Corp Ltd

Paul has over 13 years of experience in the Financial Industry. Paul started his career working for Schroders in London as a Quantitative Risk Analyst, before moving to Societe Generale where he worked for 4 years in different Structured Products roles within the Private Bank and the Investment bank across Luxembourg, Paris and Singapore. In 2013, Paul joined HSBC in Singapore as Macro sales before moving into e-distribution in 2016. Paul currently heads the HSBC eFICC sales team for Asia, Middle-East and North Africa.

Mr Riad Chowdhury
Head of APAC
MarketAxess

Riad Chowdhury joined MarketAxess in September 2020 as the Head of Asia-Pacific. Riad leads the growth strategy for MarketAxess’ expanding Asia Pacific business and is responsible for all business operations for MarketAxess in the region, including the active expansion of the firm’s relationships with regional and global institutional investors and dealers. Riad was previously Managing Director – Head of Global Execution Services for Asia at Standard Chartered Bank. Prior to Standard Chartered, he held senior roles at ANZ Banking Group and Deutsche Bank, coordinating new business development and revenue growth with both Asian and international clients. He is an experienced leader in the development and adoption of e-trading technologies, having spearheaded successful global initiatives across both rates and FX.

Riad holds a B.A. in Science and Business Administration from Concordia College in New York and a master’s degree in Business Administration from INSEAD in Singapore.

Mr Ritesh Maheshwari
Managing Director
Head of Market Outreach, Asia-Pacific
S&P Global Ratings

Ritesh is Managing Director and Head of Market Outreach, Asia-Pacific. Based in Singapore, he is responsible for developing strategies and growing the company’s franchise through improved investor and market engagement. As an additional responsibility, he is the project lead for Project Emerald. Until 2016, Ritesh was Lead Analytical Manager for Financial Services Ratings in Asia-Pacific. Before joining S&P Global Ratings in 2005, Ritesh was head of financial sector ratings at CRISIL

Ritesh has a Bachelor’s degree in Manufacturing Science and Engineering from the Indian Institute of Technology Delhi, and a Postgraduate Diploma in Management, specializing in Finance from the Indian Institute of Management Calcutta.

Mr Stephen K. Chang
Managing Director and Portfolio Manager
PIMCO

Mr. Chang is a managing director and portfolio manager in the Hong Kong office, managing Asia portfolios and developing PIMCO’s business in this space. Prior to joining PIMCO in 2018, he was a managing director and head of Asian fixed income for JPMorgan Asset Management, responsible for managing bond portfolios in the region and setting macro and asset allocation strategy as part of the broader emerging market debt team. Previously, Mr. Chang was a senior interest rates and derivatives trader with the Royal Bank of Scotland in Hong Kong and a global fixed income portfolio manager at Fischer Francis Trees & Watts, Inc. in New York. He has 25 years of investment experience and holds a master’s degree in management science from Stanford University and an undergraduate degree in computer science from Cornell University.