Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) has re-appointed three existing members to its board of directors and the re-appointment of its managing director.

Lucien Wong, attorney-general, and Chaly Mah, chairman of NetLink NBN Management Pte Ltd, will be re-appointed to the MAS Board for a further term of three years from 1 June 2023 to 31 May 2026.

Mah will also be re-appointed as Chairman of the Audit Committee [1]  for the same duration.

Ravi Menon will be re-appointed as managing director of MAS and a member of the MAS Board for a further term of two years, from 1 June 2023 to 31 May 2025. Menon will serve as managing director until 31 May 2025 or his retirement from the Singapore Public Service, whichever is earlier.

Emeritus senior minister Goh Chok Tong will step down from his position as senior advisor to MAS from 21 May 2023. Since his appointment to this role in May 2011, he has advised the MAS Board and lent his expertise across a wide range of matters. Prior to this, he served as chairman of the MAS Board from 20 August 2004.

Stonehage Fleming

Stonehage Fleming has hired Natasha Newell, as director to the group's Family Office team in Guernsey. 

She has extensive experience of offshore trusts, having worked as a senior lawyer for some of the world's leading offshore law firms, most recently Carey Olsen. 

She began her career as a competition lawyer in Brussels and subsequently qualified as an English barrister. She practiced out of a leading commercial set of barristers' Chambers in London for over a decade. Natasha moved to Guernsey in 2014 and later qualified as a Guernsey Advocate. Her professional memberships include STEP, ACTAPS and the Chancery Bar Association.  

Newell's broad commercial law background means that she is well placed to implement sound structured governance frameworks and deal with the types of cross-border estate and succession issues often faced by our clients. 

She has been appointed to the board of Stonehage Fleming (Guernsey) Limited as well as the Boards of its Corporate Trustees and Corporate Directors.  She will work closely with the Stonehage Fleming Family Office accounting, banking and investment teams. Her role is effective immediately and she will report directly to Iris Harvey, head of Family Office Guernsey. 

Iris Harvey, head of Family Office, Stonehage Fleming Guernsey, said: "It is a pleasure to welcome Natasha to Stonehage Fleming. She is a seasoned and accomplished professional who brings a wealth of experience to our existing talented and dedicated team. Her appointment demonstrates our continued commitment to being the pre-eminent independent adviser to the world's leading families and wealth creators and we are delighted to welcome her to the team."

ThomasLloyd

ThomasLloyd, the independent impact investment solutions provider, advisor and asset manager, has appointed Duncan Black, former managing director of Asia Infrastructure Advisors, as its new head of portfolio & asset management.

Based in Singapore, he will report directly to the recently appointed CIO, Nadir Maruf, and strengthens the firm's senior leadership team. At ThomasLloyd, he will drive the firm's rapid expansion of institutional investments in renewable energy infrastructure projects across Asia.

Black will lead the ongoing monitoring and assessment of portfolio performance through the whole life cycle of assets acquired at the development, construction, and operational stages. He will also drive the creation and implementation of the firm's value creation and long-term asset management strategy. Additionally, he will oversee and implement the risk management strategy for all assets in the portfolio.

In his previous role as managing director for Asia Infrastructure Investors, he advised renewable energy businesses in Asia on greenfield development, M&A, financing, and asset management. Over the last three years his work particularly focused on the Monsoon Wind Power Project, which saw him play a key role as commercial and financing lead for the development of the first wind farm in Lao PDR, a 600 MW US$1 billion project that will export its power to Vietnam and which will become Southeast Asia's largest wind farm.

Nadir Maruf, ThomasLloyd's CIO, said: "Duncan has an impressive track record in managing and leading the development of renewable and sustainable infrastructure investment projects across Asia. We have every confidence that he will turbocharge the company's growth ambitions in the region."

Maruf added: "Among Duncan's achievements, he recently led a $700 million project financing with the Asian Development Bank, the Asian Infrastructure Investment Bank, the Japan International Cooperation Agency, and a group of international commercial banks. He will bring plenty of experience to bear on ThomasLloyd's portfolio management."

Black was previously co-head of Infrastructure at Eastspring Investments (Prudential Corporation's asset management business in Asia); a founding partner of Daestrum Capital (a Singapore-based infrastructure funds manager); worked as Head of Acquisitions, Infrastructure at Deutsche Asset Management Asia; and served as CFO of CLP Holdings' Australian vertically integrated utility business (now EnergyAustralia), among other senior management positions in Singapore, Hong Kong and Australia.

Airwallex 

The global payments and fintech platform have welcomed its head of Israel and the Middle East, Or Liban, to oversee Airwallex's expansion in the region. 

Liban's previous roles include serving as Google's Head of Global Partnerships where his role involved leading diverse, high-performing teams as well as growing product adoption and revenues.

Liban joins with over 15 years of experience as a sales, business development and partnership executive. His background in leading hyper-growth businesses on a global scale, coupled with his expertise in the Israel and Middle East markets, will make him invaluable to Airwallex and its customers.

Quilter Cheviot 

Quilter Cheviot has hired Margaret Schmitt as responsible investment analyst.

Schmitt joins Quilter from infrastructure consulting firm AECOM, where she held the role of climate and sustainability consultant. Schmitt has a broad background in sustainability, environmental policy, and ecological restoration. 

Schmitt will report to Gemma Woodward, head of responsible investment at Quilter Cheviot, and will be helping to develop Quilter Cheviot's investment climate action plan and work toward achieving its net zero target. She will also be leading on themed engagements to understand and assess the climate transition plans of companies and funds, as well as carrying out policy engagement and informing Quilter Cheviot's voting decisions.

The responsible investment team at Quilter Cheviot oversees the company's stewardship programme, ESG integration and ESG screening as well as supporting more targeted solutions for clients who want their portfolios to reflect specific interests or preferences.

Gemma Woodward, head of responsible investment at Quilter Cheviot, said: "We are delighted to be welcoming Margaret to Quilter Cheviot as responsible investment analyst. This new role adds another dimension to our team and ensures we can give as much attention to climate related issues as we possibly can.

"As a team, we work to ensure we act as stewards of our clients' assets in order to protect and enhance their long-term returns while also having a positive impact on our environment. Margaret's passion and knowledge of the environment, and the impact various investments or projects can have, will be a real asset to the team."

Vistra Ireland 

Vistra has strengthened its leadership team in Ireland with the appointment of Brid Gurnett and Stephen McCormack, positioning its Capital Markets Aviation and Securitisation business for accelerated growth.  

Stephen McCormack joins Vistra Ireland as head of securitisation. With more than 20 years of experience in financial services, Stephen held roles at Standard Bank and JP Morgan and corporate service providers including Zedra and JTC Group where he advised UHNW families, international corporates, and sovereign wealth funds spanning multiple jurisdictions including Jersey, GCC, Africa and South Asia. Stephen has considerable experience forming and administering international private and corporate wealth structures. 

Brid Gurnett  joins Vistra Ireland as Commercial Director, Aviation. With more than a 30 year career span in the aircraft leasing sector, she has previously held roles with General Electric Capital Aviation Services (GECAS), where she was responsible for a significant aircraft, engine and customer portfolio. Brid brings in-depth regional knowledge and excellent professional connections with key market players. 

Cliona O'Faolain, managing director, Vistra Ireland said: "I am delighted to welcome Brid and Stephen to the Capital Markets team. They join us at an exciting time as we continue to build and grow our Capital Markets presence in Ireland. As senior leaders, Stephen and Brid bring a wealth of expertise and experience to our team and our clients. I am confident they will help strengthen our presence, client offering and service in Ireland and further afield."

Lennertz & Co

Lennertz & Co. has appointed Bastian Euler, an expert in the structuring of M&A transactions and international tax planning. The lawyer and tax advisor will be responsible for the newly created Tax & Legal department at the family office. Adding him brings Lennertz & Co.'s team total to 35 professionals. 

Bastian Euler previously worked at the Top Ten auditing and tax consulting firm, RSM. He spent six years at their New York office, before becoming a partner at their Berlin office. Bastian Euler has also worked at the multidisciplinary law firm, Boege Rohde Lübbehüsen BRL, in Hamburg.

His main areas of expertise include advising medium-sized companies and tax-efficient structuring of domestic and foreign private equity and venture capital fund investments. 

"With his wealth of knowledge and expertise, Dr. Bastian Euler's appointment will strengthen our expertise in national and international asset structuring. His addition to the team equally bolsters our expertise in structuring direct investments, private equity and venture capital funds. We are pleased to have such an experienced tax and legal expert, with an international orientation, join Lennertz & Co." said Philipp Lennertz, Managing Partner at Lennertz & Co.

Crestbridge

Crestbridge has appointed Paul Phelan as head of risk and compliance - Ireland, as the business continues to enhance its platform in Dublin.

In his new role, he will be responsible for Risk and Compliance for Ireland. With over 24 years' financial services experience specifically related to the administration and management of regulated multi-domiciled investment fund products, he is an approved person under fitness and probity requirements by the Central Bank of Ireland. He is an accomplished professional with focus on compliance, risk and corporate governance, as well as working with executive leadership.

He joins Crestbridge as the head of risk and compliance from another Irish regulated funds service provider where he had headed up the compliance function in Ireland since 2012.

Prior to that, he held another senior level risk management and compliance position in Ireland for a regulated funds service provider, and before that worked in a number of roles across the fund servicing space.