Jersey Finance Appoints Business Development Manager for Singapore

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Jersey Finance is strengthening its presence in Singapore and the surrounding South East Asia region with the recruitment of a dedicated Business Development Manager.

Yiow Chong Tan (pictured) has extensive business and corporate finance experience in Asian markets where he has been consistently involved in origination, marketing, structuring, negotiation, due diligence and execution private equity, listings and M&A transactions in Singapore and Malaysia.

In a previous role, he identified and established close working relationships with high net worth Chinese clients and institutional investors to secure and raise funds for mandated clients.

Most recently, he was Director of Corporate Finance and Secretary of the Board of Hui Tian Network Technology Co., Ltd., and prior to that Director and Consultant at HLB Atrede LLP, based in Singapore, working in Shanghai China continental.

A Singaporean national, he holds a BSc in Information Systems and an Honors degree in Accounting from the University of Leeds and is fluent in English and Mandarin Chinese. He will be based full-time in the region and will work closely with Maria McDermott, Business Development Consultant, Jersey Finance, Asia, based in Shanghai.

Joe Moynihan, CEO of Jersey Finance, commented: “Yiow’s recruitment supports our strategic goal of expanding the reach of our international business in key overseas markets. His extensive experience in corporate finance and his understanding of the needs of institutional investors and high net worth clients in the Asian region, as well as his knowledge and contacts in Singapore and other neighboring markets, will make him a fantastic asset to the overseas team. With around half of all new financial activity Jersey now generates from regions other than Europe, it is important that we capitalize on this momentum and Yiow will support us by identifying and fostering business opportunities. Our operation there will operate as a complement to Jersey’s presence in DIFC. »

Yiow added, “I look forward to working with my colleagues at Jersey Finance. Among my objectives will be to foster and grow the network of key influencers and decision makers, highlight the technical merits of Jersey’s financial services offering to encourage new inward investment and support Jersey Finance member companies in business development in the region.

Jersey authorities have forged closer ties with Singapore for some years and in 2013 Jersey and Singapore signed a double taxation agreement. More recently, in 2019, the Chief Minister of Jersey, Senator John Le Fondre, traveled to Singapore to meet with representatives of the financial services industry to discuss opportunities to strengthen ties between the two jurisdictions.

Philip Ozouf, Minister for External Relations and Financial Services, said: “There are many similarities between Jersey and Singapore as jurisdictions that have successfully carved out a niche for themselves as centers of excellence for professional services. The expansion of the Jersey Finance team to Singapore is a recognition of the island’s growing global connectivity. Having dedicated resources in this growing regional center is helpful to the work of the external relations team in
strengthen Jersey’s international relations.

Ian Gorst, Minister for Treasury and Resources, added: “The recent hiring in Singapore demonstrates the Government’s continued commitment to supporting the expansion of Jersey Finance’s business development team across the world. Having staff in key jurisdictions helps Jersey Finance represent its member companies, which in turn helps deliver the government’s financial services strategy. It is essential that we continue to provide growth opportunities for Jersey’s largest economic and employment sector while responding to the financial pressures islanders are facing due to the cost of living crisis.

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