Industry News

HSBC Private Bank has announced a series of senior appointments across Asia, aimed at reinforcing its wealth planning and leadership in Southeast Asia, and strengthening its coverage for offshore China and Global India. These regions are identified as key strategic focus areas for the bank’s growth.

The bank has expanded its Global India coverage team in Southeast Asia, reflecting the segment’s growing importance. Phaneendar Bhavaraju and Rangan Krishnan have joined as Senior Relationship Managers in Singapore, reporting to Manoj Ramarao, Senior Desk Head, Global India, Singapore and Hong Kong. Phaneendar brings over 28 years of experience in various financial sectors, whilst Rangan has over 31 years in wealth management, most recently serving at Bank of Singapore.

In a move to enhance international coverage for Chinese clients, Alex Liu has been appointed Market Head of Offshore China. Based in Hong Kong, Liu will extend his coverage to include Offshore China teams in Singapore, reporting to Kanas Chan, Head of North Asia and Hong Kong. This appointment aims to better serve the international needs of Chinese clients and capture opportunities in the Greater China business.

Additionally, Dawn Fung has been appointed Head of Wealth Planning, Southeast Asia. With over 25 years of experience, Fung will continue to lead the region’s wealth planning agenda, focusing on high net worth and ultra-high net worth clients.

In Thailand, William Fok has been appointed Country Head of Private Bank, bringing over 20 years of experience in structured products and investment advisory. Fok’s appointment marks a return to HSBC, where he previously worked in Hong Kong and Bangkok.

These strategic appointments underscore HSBC Private Bank’s commitment to strengthening its leadership and expanding its services across key Asian markets.

Human Resource Directors (HRDs) across Asia are increasingly becoming strategic change leaders, according to new research from Hays. The study, which involved 271 senior HR professionals from China, Hong Kong SAR, Japan, Malaysia, and Singapore, indicates that 44 percent of HRDs expect their roles in designing and managing organisational change to expand significantly over the next five years.

The report, titled “The DNA of a HRD,” highlights a shift in priorities, with stakeholder engagement now considered the most critical skill for success, as cited by 51% of respondents. This marks a departure from traditional strategic planning. However, challenges such as organisational politics, identified by 40% of HRDs, and limited career growth opportunities, noted by 26%, persist.

Japan’s HR leadership approach stands out, with 36% of HRDs emphasising stakeholder engagement as a key quality for aspiring candidates.

Adrian Lam, Regional Director at Hays Hong Kong SAR, remarked, “In Hong Kong, HR Directors are particularly ambitious when it comes to career progression. Our research shows that 60% are actively seeking a bigger role, whether by stepping into a more complex organisation or moving into a Group HRD position.”

The findings underscore the evolving role of HRDs as they navigate complex global challenges, with many pursuing international opportunities to broaden their perspectives. The report suggests that such experiences are transformative, enhancing strategic thinking and equipping HR leaders with the tools needed for today’s dynamic market.

Strategic Marine has successfully delivered its second 27-metre Z-Bow Crew Transfer Vessel (CTV) to a customer in Taiwan, marking the completion of a two-vessel programme aimed at supporting offshore wind operations in the region. Developed in collaboration with BMT Limited, the vessel is equipped with advanced features such as controllable pitch propellers, bow thrusters, and an Active Fender System, ensuring reliable performance in challenging conditions.

The delivery signifies Strategic Marine’s capability in executing multi-vessel construction programmes and meeting specific regional requirements. This second vessel handover also completes a four-CTV building programme initiated in Q2 2024 with the same customer.

Chief Executive Officer of Strategic Marine, Chan Eng Yew, stated, “The successful delivery of the second 27m Z-Bow CTV to Taiwan marks another step forward in our collaboration with the customer. These vessels highlight our focus on building dependable, high-performance solutions that support the continued expansion of offshore wind energy.”

Strategic Marine, a Singapore-based shipyard, continues to collaborate with operators and partners globally to deliver innovative aluminium vessels tailored to the evolving needs of the offshore wind sector. This latest delivery underscores the company’s commitment to providing high-quality, specialised vessels for both civilian and defence applications. As the offshore wind industry expands, Strategic Marine’s role in supplying advanced vessels is expected to grow, further supporting the sector’s development.

Skyscanner has unveiled its Cheapest Destination Planner, a new tool designed to assist Singaporean travellers in planning cost-effective holidays for 2026. The widget aims to address common travel planning challenges, such as feeling overwhelmed and concerns over expenses, which affect 63% and 69% of travellers, respectively. By showcasing the lowest-priced destinations and optimal travel days each month, the tool promises to streamline the holiday planning process.

The launch comes as 91% of Singaporeans plan to travel abroad this year, with many seeking relaxation and new experiences. However, only 60% have booked flights, with cost and destination indecision being significant barriers. Skyscanner’s new tool, along with a curated list of the top 10 cheapest destinations for 2026, offers solutions for quick and affordable getaways.

Cyndi Hui, Skyscanner’s Travel Trends and Destinations expert, highlighted the appeal of the tool for time-starved Singaporeans. “With great value fares and smart tools that do the hard work for you, Skyscanner helps travellers spend less time planning and more time enjoying the break they deserve,” she said.

The top 10 cheapest destinations include Phuket, Manila, and Bali, with average return flight prices under S$517. The Cheapest Destination Planner also provides insights into the best days to travel, with Sunday identified as the most cost-effective day on average. Skyscanner continues to innovate, offering features like price drop alerts and multi-city trip options to enhance travel experiences.

Southeast Asia’s FinTech sector experienced a notable shift in 2025 as investors gravitated towards established transaction platforms, according to the latest Tracxn Geo Funding Trends Report. Total funding fell by 21% to $1.4b, reflecting a structural correction in the market. However, late-stage investments increased by 13%, highlighting a preference for mature companies with proven track records.

The report reveals a significant decline in risk appetite, with seed and early-stage funding contracting by 53% and 51% respectively. Despite the overall downturn, the number of funding rounds exceeding $100m remained stable at three, indicating sustained confidence in market leaders. Payments and digital remittance platforms attracted the majority of capital, securing $724m and $633m, respectively.

Singapore emerged as the dominant hub, capturing 85% of the region’s funding, underscoring its regulatory stability and investor accessibility. The year saw a moderation in unicorn creation, with only one new unicorn compared to two in 2024. Exit activities also shifted, with acquisitions dropping by 25% to 18 deals, whilst IPOs increased by 50% to three.

The report highlights that investor participation varied across stages, with Iterative, 500 Global, and Selini Capital leading seed-stage investments. Meanwhile, Peak XV Partners, Singtel Innov8, and Prosus were prominent in early-stage funding, and DST Global, Unbound, and Asia Partners dominated late-stage investments.

Overall, the SEA FinTech ecosystem in 2025 reflected a cautious investment environment, with a focus on mature companies and strategic capital allocation. The trend suggests a continued emphasis on stability and proven performance in the region’s financial technology landscape.

Aon plc has announced the appointment of Kulshaan Singh as the enterprise client leader for Asia Pacific, effective immediately. Based in Singapore, Singh will focus on delivering innovative risk and human capital solutions to Aon’s enterprise and multinational clients across the region. Reporting to Craig Torgius, Aon’s chief client officer and head of enterprise clients for Asia Pacific, Singh is tasked with building strategic partnerships and unlocking new growth opportunities.

Singh brings over 20 years of experience in consulting and executive leadership, having held significant roles such as managing director for talent solutions for Southeast Asia at Aon, CEO of Mercer Singapore, and chief people officer at Charoen Pokphand Group. Most recently, he served as the global group chief people officer at Thai Union Group, where he led large-scale transformation initiatives.

Craig Torgius praised Singh’s strategic acumen and execution ability, stating, “His ability to lead transformation, foster collaboration, and deliver results across diverse industries will be invaluable in helping clients navigate an increasingly complex risk landscape.”

Expressing enthusiasm for his new role, Singh said, “I feel privileged and excited to be back at Aon and look forward to working closely with Aon’s global and local teams to deliver solutions that help clients navigate complexity and interconnected challenges.”

Aon, a leading global professional services firm, provides clients in over 120 countries with insights and solutions to make better risk and people decisions. Singh’s appointment is expected to enhance Aon’s capabilities in the Asia Pacific region, supporting clients in achieving their growth ambitions.

Standard Chartered has successfully executed its first digital bank guarantee transaction using ICC-Swift API standards through Komgo’s Konsole platform. This transaction, completed for a global energy company, marks a significant advancement in creating a fully interoperable digital bank guarantee ecosystem. The integration allows real-time connectivity between Komgo’s platform and the bank, simplifying processes and enhancing speed, transparency, and reliability.

The transaction, initially executed through Standard Chartered UK, will be extended to clients across all the bank’s markets. This initiative underscores Standard Chartered’s commitment to innovation and its leadership in trade finance digitisation. Samuel Mathew, Global Head of Documentary Trade at Standard Chartered, stated, “We are delighted to be among the first banks to commercialise the ICC-Swift API standards for bank guarantees.”

Komgo, a global digital trade finance platform, plays a crucial role in streamlining corporate-to-bank trade finance communication. The platform’s seamless integration with financial institutions aligns with ICC-Swift API standards, reinforcing its position as a scalable enabler of industry-wide connectivity and automation.

This development not only enhances operational efficiencies but also makes digital guarantees more accessible to multibanked clients. As Standard Chartered continues to expand this solution, it aims to build a future-ready, globally interoperable trade ecosystem.

Natixis Corporate & Investment Banking (Natixis CIB) has appointed Jarek Olszowka as Head of the Green & Sustainable Hub in Asia Pacific. Based in Singapore, Olszowka will spearhead the bank’s efforts in green and sustainable finance across the region, working closely with stakeholders to develop and implement sustainable financial solutions.

With over 20 years of experience in the financial services industry, Olszowka previously served as International Head of Sustainable Finance at a major Japanese financial services group. His expertise will be instrumental in advising Natixis CIB clients on their sustainability transitions and accessing capital in sustainable formats.

Orith Azoulay, Global Head of Green & Sustainable Finance at Natixis CIB, expressed enthusiasm about the appointment, stating, “We are pleased to welcome Jarek into our GSH team, bolstering our green and sustainable finance capabilities in Asia Pacific.” Azoulay highlighted the bank’s commitment to delivering innovative solutions amidst geopolitical challenges and increased scrutiny of sustainability topics.

Raghu Narain, Head of Investment Banking, Asia Pacific, added, “Jarek brings with him a wealth of experience in sustainable finance which is a valuable addition as we strive to be the ‘go-to’ financial partner for clients in their energy transition journey.”

Natixis CIB, part of Groupe BPCE, aims to align its financing portfolio with a carbon neutrality path by 2050. The bank’s strategic focus on transition financing in Asia Pacific underscores its dedication to supporting clients in reducing their environmental impact.

NTT DATA, in collaboration with Sumitomo Corporation and JA Mitsui Leasing, has announced the formation of Intra-Asia Marine Networks Co., Ltd. (I-AM NW) to construct and operate the Intra-Asia Marine Cable (I-AM Cable). This new submarine communication cable will link Japan, Malaysia, and Singapore, with planned extensions to South Korea, the Philippines, and Taiwan. The project, with an estimated cost of US$1b, aims to bolster digital infrastructure across Asia.

The I-AM Cable will span approximately 8,100km, creating a new long-haul connectivity corridor in the region. Designed to deliver an initial capacity of around 320 terabits per second (Tbps), the cable will support the increasing demand for AI, cloud services, and cross-border data traffic. It will also enhance network resilience for global tech companies and telecom operators.

Japan, positioned as a crucial data hub between Asia and the United States, will benefit from the cable’s robust communication routes originating from landing stations in Chiba, Mie, and Fukuoka. This infrastructure will provide resilience against natural disasters and reinforce Japan’s role as a data hub.

Yoshio Sato, CEO of I-AM NW, stated, “The launch of I-AM NW marks a significant step in strengthening Asia’s digital infrastructure. This project reflects our commitment to delivering reliable, flexible connectivity solutions that empower businesses and drive digital transformation across the Asia-Pacific region.”

I-AM NW will oversee the entire process from planning to sales, ensuring high-quality communication services for global tech giants and telecom operators, thereby contributing to the development of communication infrastructure across Asia.

UOB Asset Management (UOBAM) has unveiled its first quarter 2026 investment strategy, forecasting a more favourable investment landscape as fiscal and monetary conditions improve. The firm anticipates economic risks to diminish, bolstered by fiscal incentives, US interest rate cuts, and robust AI-driven investments. Corporate earnings are expected to rise at double-digit rates, with Asia leading at 18%.

UOBAM is adopting a slightly overweight stance on equities, particularly in Asia and the US, whilst maintaining diversification across fixed income and commodities. Anthony Raza, head of UOBAM Multi-Asset Strategy, stated, “Whilst the music is playing, we have to keep dancing. With strong corporate earnings and healthy balance sheets in the tech sector, we believe the market expansion cycle can continue.”

Within equities, UOBAM favours Asia due to attractive valuations, strengthening currencies, and robust domestic demand. The US is upgraded to overweight, driven by strong technology and AI growth. In fixed income, diversification is advised to manage valuation risks, focusing on high-quality developed market credits and select emerging market sovereigns. Gold remains a preferred safe-haven asset amid geopolitical uncertainties.

UOBAM, a subsidiary of United Overseas Bank Limited, manages S$408 billion in client assets and has a significant presence across Asia. The firm is recognised for its digital innovation and sustainable investing initiatives, having received numerous awards in these areas. As conditions improve, UOBAM’s balanced positioning aims to maximise potential returns whilst managing risks.