House - Issue 75
Welcome...
...to the 75th Edition of House!
While the weeks leading up to the holiday season are normally seen as a time to relax and unwind, we are pleased to report that the market remains extremely busy!
Leading financial institutions continue to actively seek top regulatory talent, with a series of key hires setting the tone for what we expect to be an incredibly productive start to 2022.
Investment banks in Hong Kong have continued to consolidate their compliance presence, as seen by Barclay’s recent hire of John Fullick as their Head of APAC Global Markets Compliance, Credit Suisse's appointment of Joseph Lau as their Head of Private Bank Compliance, as well as Banque Internationale à Luxembourg's (BIL) hire of Benson Ng as their Head of Compliance.
In parallel, the buy-side have been equally busy, with Brilliance Capital Management’s appointment of Laura Achoneftos as their Head of Legal, CMC’s appointment of Tony Wang as a Managing Director within their Legal & Compliance team, and Fidelity’s appointment of Lily Li as a Senior Manager within their Investment Compliance team.
The insurance space have been just as active, with AIA appointing Joven Lai as an Associate Director and Head of their Centralised Investigation Unit, and HSBC Life announcing Kelvin Yuen as their Head of Compliance Advisory.
Meanwhile, cryptocurrency exchanges and corporates have continued to add to their compliance teams within APAC. BitMEX and Crypto.com announced the appointments of Christopher Pietrzykowski and Tim Chau as a Regulatory Compliance Officer and Security & Compliance Analyst respectively, while Microsoft added Zhi Wei Wang as their Regional Director of Compliance Operations, and Amazon hired Suki Wong as a Quality Compliance Manager.
With rising awareness into matters of data privacy, security and system maintenance, it appears that institutions have placed cybersecurity experts at the very top of their Christmas lists…
All Things Cyber Security
Several significant regulatory developments within cybersecurity, have prompted institutions across major financial jurisdictions to take the initiative in seeking out experts in the field.
We continue to see a growing demand for cybersecurity and data privacy professionals, and expect this trend to continue well into 2022, particularly when taking into account recent headlines.
In mid-November, the Cyberspace Administration of China (CAC) proposed a series of stringent regulations, intended to add a considerable level of oversight to FinTech’s within the region.
The “Network Data Security Management Regulations” will subject companies with upwards of 100 million daily active users to strict cybersecurity reviews, prior to the release of their IPO’s on HK markets, on grounds of national security.
This follows draft regulation in July of this year, titled “Measures for Cybersecurity Review”, which required firms with the personal data of over a million users to apply for similar inspections, prior to applying for listings on foreign markets.
Similarly, in the United States, prominent regulatory agencies including the Office of Comptroller for Currency (OCC) recently approved a rule which will require banks to report significant cybersecurity incidents within 36 hours of discovery.
As such, organisations across the financial services industry have sought to reassess their approach to data and cybersecurity, as they find themselves caught in the crosshairs of both regulatory and geopolitical uncertainty.
Earlier this year, the Hong Kong Exchange (HKEx) appointed James Fang as a Vice President focussing on Security Architecture & Engineering, while Standard Chartered hired Shirley Gu as their Regional Director for APAC Data and Privacy Regulations.
Since then, Mox Bank appointed Shehan Gammapila as Director and Lead for Information & Cybersecurity, Tobie Marais as their Head of Cybersecurity and Joseph Wong as their Head of Cybersecurity Risk, while Tencent appointed Yi Kei Suen as a Legal Counsel with a focus on Data Privacy.
In Singapore, Tencent appointed Wu Daisheng as a Senior Project Manager with a focus on Information Security & Compliance, while ByteDance added Wan Yi Ho as a Compliance Legal Council within their Global Legal & Compliance team.
However, consulting firms appear to be leading from the front insofar as cybersecurity recruitment is concerned, with a number of notable senior appointments over the latter parts of the year.
Following the additions of David Klopp and Geralt Owen as Managing Directors earlier this year, Kroll announced the hires of Lester Lim and Patrick Lum as Senior VP’s, along with Elaine Hung as a VP, focussing on cybersecurity.
Likewise, FTI and PwC appointed Mason Drew and Tam Huynh as MD’s within their respective cybersecurity practices in Singapore, with the latter also adding Iris Leung as a Senior Cybersecurity Consultant in Hong Kong.
This unmistaken hiring trend has expectedly made its way to the United States, with Chinese firms in particular looking to strengthen and otherwise legitimise their regulatory presence within the region.
ByteDance recently appointed David Yam as a senior member of their Legal & Compliance team in San Francisco, while their subsidiary TikTok hired Dariusz Semanyszyn as a Senior Privacy Program Manager, Kim Albarella as their Head of Security Risk, Vendor & Client Assurance, Cody Pfiester as their Cloud Security Lead, Kasim Baig as their Security & Threat Solutions Strategy Lead, as well as Dondi West as their Information Security Council.
Furthermore, the recently approved cyber-security reporting rule, as discussed above, has provided sufficient incentive for U.S. investment banks to seek relevant expertise, evidenced by Wells Fargo’s appointment of Alyson Weckstein Tiegel as a Senior Counsel specialising in Privacy, Information Security and Data along with Bank of America’s promotion of Robert Alfano to Senior Vice President of Cyber Security Assurance.
We look forward to seeing what progress is made within this sector over the next 12 months, and will be sure to keep our subscribers in the loop! Please do not hesitate to reach out to us at Arion House to discuss the market or any relevant opportunities that may interest you.
Onward with ESG
As the world grows more conscious of matters surrounding environmental sustainability, Hong Kong’s financial sector have proactively sought out ESG experts to spearhead the city’s push to emerge the corporate-sustainability capital of Asia.
Investment banks are actively seeking professionals with relevant backgrounds, with DBS appointing Feng Hu as a VP specialising in Credit Risk and ESG Advisory, CLSA appointing Jonathan Lin as an ESG Strategist, and HSBC hiring Rammy Lo as a Senior Stress Manager, with a focus on Climate Risk Execution.
Consulting firms have promptly followed suit with PwC appointing Jocelyn Ho as a Senior Manager covering Climate & Sustainability, and ERM internally promoting Julia Mason to an ESG & Climate Change Consultant.
We can safely bet that the demand for ‘environmental compliance officers’ is not going to slow down any time soon. The desire on part of multinational organisations and governments alike, to accelerate their climate change capabilities, is likely to see these hiring trends continue for the foreseeable future.
Find the career you deserve!
Director, APAC Head of Banking, Capital Markets & Advisory (BCMA) Product Compliance
Multinational Investment Bank
Hong Kong
Director, Portfolio Compliance Officer
Hong Kong based Corporate
Hong Kong
Director/MD, Global Chief Compliance Officer
International FinTech
Hong Kong
Senior Director, Head of Risk - Hong Kong & Macau
Multinational Payments Company
Hong Kong
Director, Head of Compliance, Hong Kong & Macau, Legal & Compliance, HK
Multinational Insurance Company
Hong Kong
Director, Global Markets Compliance (FICC)
European Investment Bank
Hong Kong
VP, Private Equity Compliance Officer
Singapore based Private Equity Firm
Hong Kong
VP, Principle, Legal & Compliance
U.S. based Private Equity Firm
Hong Kong
VP, Head of AML Compliance, HK & Macau
Multinational Insurance Company
Hong Kong
VP, Senior Racing Security & Integrity Assurance Manager (Intelligence)
Hong Kong based Corporate
Hong Kong
VP, Senior Racing Security & Integrity Assurance Manager (Investigations)
Hong Kong based Corporate
Hong Kong
VP/AVP, KYC/CDD Specialist
Multinational Law Firm
Hong Kong
VP, Manager, Business Oversight (Compliance)
Hong Kong Corporate
Hong Kong
Senior Manager/Associate Director, Macau Compliance Lead
Multinational Insurance Company
Macau
Senior Consultant (Asset Management)
Multinational Consultancy
Hong Kong
Senior Consultant (Capital Markets)
Multinational Consultancy
Hong Kong
AVP, Senior Compliance Manager
Hong Kong based Corporate
Hong Kong
AVP, Integrity Assurance Support Manager
Hong Kong Corporate
Hong Kong
Consultant
Multinational Consultancy
Hong Kong
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Movers
APAC
Brilliance Capital Management appointed Laura Achoneftos as their Head of Legal. She joins from Goldman Sachs, and will continue to be based in Hong Kong.
CMC appointed Tony Wang as a Managing Director within their Legal & Compliance team, from Vietnam Innovation Park, based in Hong Kong.
HSBC appointed Kelvin Yuen as their Head of Compliance Advisory for Insurance, from AIA in Hong Kong.
Mox Bank hired Shehan Gammapila as a Director & Lead focussing on Information Security & Risk Management. He joins from Virtusa, and will be based in Hong Kong.
Standard Chartered internally promoted Joseph Wong to the Head Cyber Security Risk for Mox Bank, based out of Hong Kong
Mox Bank internally promoted Tobie Marais to their Head of Cyber Security, in Hong Kong.
Tencent hired Wu Daisheng as a Senior Project Manager focussing on Information Security and Compliance. He joins from ST Engineering, and will be based out of Singapore.
FTI Consulting appointed Mason Drew as a Cybersecurity Managing Director. He joins from the Federal Bureau of Investigation (FBI), and will be based out of Singapore.
DBS hired as a Feng Hu as a VP and Specialist within Credit and ESG Advisory Origination, Treasury & Markets, He joins from China Water Risk (CWR), and will be based out of Hong Kong.
CLSA hired Jonathan Lin as an ESG Strategist from Business for Social Responsibility (BSR), in Hong Kong
Tencent hired Yi Kei Suen as a Legal Counsel with a focus on Data Privacy. She joins from A.S. Watson Group, and will be based out of Hong Kong.
ByteDance appointed Wan Yi Ho as a Compliance Legal Counsel within their Global Legal Compliance team, from BHP based in Singapore
Barclays appointed John Fullick as their Head of APAC Global Markets Compliance. He joins from the Royal Bank of Canada, and will be based out of Hong Kong
Fidelity International appointed Lily Li, as a Senior Manager within their Investment Compliance team, from T. Rowe Price, based in Hong Kong/
AIA internally promoted Joven Lai to the Head of Centralised Investigation Unit, in Hong Kong.
Microsoft hired Zhi Wei Wang as their Regional Director of Compliance, Investigation, from Gilead Sciences, in Hong Kong.
PingPong appointed Cyrus Tong as their Regional Chief Compliance Officer, from Oasis Advisory, in Hong Kong.
BitMEX hired Christopher Pietrzykowski as a Regulatory Compliance Officer, from the EQONEX Group, in Hong Kong.
Crypto.com hired Tim Chow as a Security and Compliance Analyst, from Nexusguard Consulting, in Hong Kong.
Amazon hired Suki Chow as a Quality Compliance Officer for HPB, from Trapestry in Hong Kong.
Standard Chartered appointed Tae Hoon Kim as a Senior Legal Counsel focussing on Global Securities Services. He joins from HSBC, and will be based out of Hong Kong.
CITIC appointed Chun To Chan as an Officer within Customer Due Diligence (Financial Crime Compliance). He joins from Hang Seng Bank, and will be based out of Hong Kong.
HSBC appointed Nelson Lee as Financial Crime Compliance Manager. He joins from Credit Suisse, and will be based out of Hong Kong.
AMERICAS
ByteDance hired David Yam as a senior member of their Security & Compliance team. He joins from Conga, and will be based out of the San Francisco Bay Area.
Wells Fargo hired Alyson Weckstein Tiegel as a Senior Counsel, Privacy, Information Security and Data, from ADP, based out of New York City.
Bank of America internally promoted Robert Alfano to Senior Vice President & Cyber Security Assurance, Remediation Governance Executive, based out of Charlotte, North Carolina.
TikTok hired Cody Pfiester as a Cloud Security Lead, from EY, based out of Nashville.
TikTok hired Dondi West as an Information Security Counsel, from Microsoft, based out of Birmingham, Alabama.
TikTok appointed Kasim Baig as a Security & Threat Solutions Strategy Lead, from Microsoft, based out of Washington D.C.
TikTok appointed Kim Albarella as their Head of Security Risk, for Vendor & Client Assurance, from ADP, based out of New York City.
TikTok hired Dariusz Semanyszyn as a Senior Privacy Program Manager, from Arity, based out of Chicago.
EMEA
TikTok hired Taranjeet Kaur as a Security Compliance Specialist, from Dell Technologies, based out of Dublin.
J.P. Morgan hired Amir Navidy as a Vice President within their Data Privacy Compliance team. He joins from 2B Advice, and will be based out of Frankfurt.
Deloitte appointed Henner Hussmann as a Senior Manager within Data & Privacy, Cyber & Strategic Risk team. He joins from Clarios, and will be based out of Frankfurt.