Amy Ahn, a global tax head at Standard Chartered, has left to join Bank of Singapore as its new head of tax compliance. Her move into the ED-level role is another sign that the middle-office job market is still hot in Singapore, even in the fourth quarter, traditionally a quiet time for hiring as banks tighten headcount budgets.
Ahn joined Stan Chart in 2012 as the Singapore-based global tax head/tax lead for principal finance, according to her online profile. In 2015, she added private banking, wealth management, and retail banking to her global remit.
Stan Chart is currently looking to trim managerial jobs in Singapore in an effort to reduce its fourth-quarter costs, but Ho’s move is thought to be unrelated to this restructuring.
Senior roles in the middle-office are a hiring sweet spot in Singapore right now, and OCBC – the parent company of Ahn’s new firm, Bank of Singapore – is one of the most active recruiters. In July, for example, Beaver Chua, a police officer-turned compliance expert, left HSBC to become OCBC’s head of group policy governance, and anti-money laundering and counter financing of terrorism for Singapore.
OCBC, DBS, UOB, HSBC, and Ahn’s former firm, Standard Chartered, dominate senior hiring in tax compliance and other governance sectors in Singapore, largely because as Asia-focused banks they can offer attractive global roles still based in the Republic. OCBC has also been the victim of middle-office poaching. As we reported yesterday, Kelvin Kairong Toh has joined HSBC from OCBC as head of financial crime compliance sanctions for Singapore.
Prior to Standard Chartered, Ahn worked for six years at EY in Tokyo and Seoul as a senior tax and transfer-pricing manager, according to her public profile. She covered the financial services sector while at EY, which would have made her an attractive hire for Stan Chart. Banks often hire finance-coverage tax specialists from the Big Four when they want to expand their tax teams.
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