Singapore Exchange (SGX) has poached Deutsche Bank’s institutional clients group head in China to lead its fixed income division, as part of a major organisational restructure.
The exchange group confirmed that Lee Beng Hong has been appointed head of fixed income, currencies and commodities (FICC) at SGX, and will take up the new role as of 1 August this year.
SGX said that Hong will lead the FICC unit as part of a major business restructure, which will see the FICC, equities, data, connectivity and indices, and global sales and origination businesses report to the exchange group’s CEO, Loh Boon Chye, from next month.
Hong joins SGX from Deutsche Bank where he has worked since 2003, most recently as the bank’s China head of institutional clients group. He also previously headed up the China global markets business for the investment bank, and has 16 years of experience in the industry with a particular focus on Asia FICC products and sales.
Under the new structure, SGX’s current head of equities and fixed income, Chew Sutat, will take on a new role as head of the global sales and origination unit, and Ng Kin Yee will continue to lead the data, connectivity and indices business division.
At the same time, Michael Syn, currently head of derivatives at SGX, has been appointed to lead the new equities division, where the cash equities and equity derivatives business lines will merge under the new structure.
“These changes will further SGX’s future growth as a leading international exchange, fluent in multiple asset classes,” SGX CEO, Loh Boon Chye, commented.
“We look forward to building new capabilities in growth areas, achieving scale and efficiency in established markets and enhancing customer-centric delivery of investment, risk management and capital formation solutions to the marketplace.”