On The Move: Sats

Sats

Sats, which handles cargo and provides in-flight catering services, has appointed GGV Capital managing partner Jenny Lee as its independent non-executive director.

Ms Lee has more than 16 years of global venture capital experience and had helped set up GGV's first China operations in 2005. Prior to that, she held various engineering and operating positions at Singapore Technologies Aerospace and was at Morgan Stanley as an investment banker.

"Her strengths are in venture capital investing with a focus on finding and partnering with disruptive technology companies, coming up with latest technical inventions that can benefit the corporate world at large," said Sats last Friday.

"With more than 16 years of experience in venture capital investing, her wealth of experience will enhance and complement the competencies and skills of the present board."

Frasers Centrepoint Asset Management

Dr Chew Tuan Chiong, chief executive of Frasers Centrepoint Asset Management, will step down by the year end, the manager of Frasers Centrepoint Trust said last week. Dr Chew, 61, has told the board he plans to retire from his roles as CEO and executive director.

His successor "will be announced in due course", Frasers Centrepoint Asset Management chairman Cheong Choong Kong said in a statement.

Since Dr Chew joined in 2010, the trust's assets have grown from $1.52 billion to $2.84 billion, the manager noted in its announcement.

Ayondo

Fintech firm Ayondo has appointed an interim chief executive, Mr Richard Mark Street. The Catalist-listed company said last weekits CEO Robert Paul Lempka has resigned to pursue other interests.

Mr Street has been an adviser to Ayondo since August 2013.

Ayondo, which runs a social trading platform, posted a second-quarter net loss of three million Swiss francs (S$4.1 million), doubling from 1.5 million Swiss francs for the same period a year earlier as trading revenue dipped.

EY

EY's global managing partner will step up to be the firm's next chairman and chief executive. Mr Carmine Di Sibio will succeed Mr Mark Weinberger, who said last month that he was stepping down and planned to retire.

Mr Di Sibio joined the firm in 1985. He has served as a partner for many large financial services accounts and held several leadership positions, said EY earlier this month. He will take the helm in July.

A version of this article appeared in the print edition of The Straits Times on January 28, 2019, with the headline 'On The Move'. Print Edition | Subscribe