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Mr Gan Seow Ann
Mr Gan will join the exchange as Executive Vice President and Head of SGX-ST in March 2001. He will lead the division in managing the operations of the stock market, promoting it as a choice market for capital raising and investment, and spearheading the development of new securities instruments and facilities.
Mr Gan brings with him a wealth of experience in various aspects of the securities market. From 1996 to 2001, he was the Managing Director of the Institutional Client Division at Merrill Lynch (S) Pte Ltd, where he oversaw the business activities of the Singapore and Malaysia offices. His efforts in growing Merrill Lynch's equity business was duly recognised when the company attained top ratings for sales penetration in surveys by Reuters, Greenwich and Institutional Investor. He played a key role in coordinating cross regional multi-product sales, including that of equity-linked products and also managed the company's membership in SGX and Kuala Lumpur Stock Exchange (KLSE).
Prior to joining Merrill Lynch, Mr Gan was Managing Director of Crosby Securities Pte Ltd (now SG Securities). He grew the business and transformed the equity house into a top-ranked equities business in South East Asia.
Mr John Duggan
Mr John Duggan will join the exchange as Senior Vice President and Head of SGX-DC in February 2001, leading the division in managing and developing the derivatives clearinghouse.
Mr Duggan has played key roles in various derivatives markets around the world. Most recently, he was Group Advisor, Derivatives Markets to the KLSE. From 1995 to 1999, he was Chief Operating Officer of the Kuala Lumpur Options and Financial Futures Exchange (KLOFFE), and was instrumental in developing the awareness of the exchange among the international derivatives community. Prior to that, he was Manager of Special Projects at the Derivatives division of the Australian Stock Exchange and Director General of the Belgian Futures and Options Exchange (Belfox).
As Manager of the International Commodities Clearing House (ICCH), Mr Duggan was responsible for implementing the systems and procedures for the then new clearinghouse. He was also responsible for the introduction of individual equity options on the Australian Stock Exchange, as well as for establishing the ICCH clearing operations for the New Zealand Futures and Options Exchange.
Thomas Kloet, CEO of SGX, said, "Both Seow Ann and John bring substantial experience and expertise in their respective markets to SGX and will be valued additions to our senior management team. Our securities trading market will benefit greatly from Seow Ann's leadership and knowledge of investors, issuers and securities members' needs. John's experience with a variety of derivative products across the region and the technical understanding of the cash, futures and derivatives business will greatly enhance the potential of our recently created derivatives clearing subsidiary."
The recruitment of these two new division heads comes close on the heels of Mr Alan Shaw's appointment on 15 January 2001, as Executive Vice President and Head of the Risk Management and Regulation division.
