Chew Sutat, the former senior managing director at Singapore Exchange S68 (SGX) has been appointed as the chairman of global private market exchange ADDX.
Chew, who retired from the exchange in July 2021, has over 25 years of experience in the financial services industry including 14 years on SGX’s executive management committee. Prior to SGX, Chew held senior roles at DBS Bank, Oversea-Chinese Banking Corporation (OCBC) and Standard Chartered Bank.
Since his retirement, Chew started penning a weekly column at The Edge Singapore titled "Chew On This' where he offers his colourful take on the global markets. He is also the chairman of Community Chest, and holds other roles such as the lead independent director of SGX-listed Yangzijiang Financial Holding YF8 . Chew is also on the board of directors at Income.
In addition to his role as chairman of ADDX, Chew will become a board member of ICHX Tech. The appointments will take effect at the same time. ICHX Tech is a company that develops blockchain-based infrastructure solutions.
Following Chew’s appointment, Danny Toe will remain the chairman and CEO of ICHX Tech while Choo Oi-Yee will remain in her position as CEO of ADDX.
“As chairman, Mr Chew will provide high-level guidance and leadership to help entrench ADDX’s position in the global private market space. He will work closely with the executive team to set the company’s strategic direction as well as drive growth and innovation, as the business looks toward regional expansion,” says ADDX in its release.
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Toe welcomed the appointment, saying, “Sutat has demonstrated his ability to drive innovation and growth in a highly competitive and regulated industry – the transformation of SGX from an Asian gateway into a global multi-asset exchange over his 14 years of service is testament to that.”
“His regulatory know-how, experience and expertise from his time at SGX will be invaluable as we set our sights on regional expansion. Sutat will play a critical role in ensuring ADDX is well-governed and positioned for long-term success. I am confident that he will provide the high-level strategic thinking and leadership needed to help ADDX penetrate and navigate markets beyond Singapore’s shores,” he adds.
Chew expressed his delight to join ADDX as its chairman and to work with the team on “strategies to increase liquidity and scale in the private market sector”.
“ADDX has already made significant strides in this area, and I am excited to work with the team to build on this success and bridge the gulf between public and private markets. Together, we will continue to drive growth and innovation to democratise private markets and unlock opportunities for investors,” he says.
