Clarence Chan, UOB’s former head of spot trading and eFX, has re-emerged as the chief operating officer of Singapore-based fund management firm Pilgrim Partners.
Chan, who boasts more than 28 years’ experience in the finance sector, joined Pilgrim last month, in one of the most senior banking-to-buy-side moves in Singapore so far this year. He replaces Tong Foo Cheong, who stepped down as COO in August to head up Pilgrim’s business-office team.
Veteran FX specialist Chan left UOB in November after a two-year stint managing a team focused on market making and managing risk for FX products. He was also involved in several digitalisation projects at UOB and was “instrumental in developing the core FX electronic trading platform” that supplies prices to other divisions of the bank, according to his online biography.
Between 2007 and 2015, Chan worked for SEB in Singapore, where he started the Swedish bank’s FX option market making and trading for the Asia time zone. After six years on the FX trading desk at SEB, he moved into a marketing role within institutional sales, focused on marketing FX and derivatives products and trading strategies to hedge funds, asset managers and insurers.
Since graduating from the National University of Singapore in 1989, Chan has worked for several banks in the Republic, including Citi, Barclays, HSBC and Maybank, mostly in FX trading roles, according to his online profile. He has been with UOB on two separate occasions – his first spell at the firm, as a director in spot FX, started in December 2002 and last 16 months.
OUB has been on a senior hiring spree of late, particularly in technology. Last month Setio Darmawan, a veteran HSBC technologist who was latterly its chief information officer for Indonesia, joined the Singaporean firm. His move came just weeks after UOB took on senior IT infrastructure manager KV Anup Kumar, who was previously regional application platform hosting head for ASPAC and EMEA at Citi. In October, UOB recruited executive director Christopher Wee from Standard Chartered to help run its digital product development in Singapore.
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