Standard Chartered turns tables on tech firms with hire from Facebook

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Standard Chartered turns tables on tech firms with hire from Facebook

The flow of talent between big technology firms and big banks in Singapore doesn’t always move in the direction of the tech companies. Yvonne Tan is a case in point. Tan left Facebook and joined Standard Chartered earlier this month as an executive director for strategic partnerships, digital channels and data analytics, within corporate, commercial and institutional banking (CCIB).

She spent about three and a half years in an APAC payment partnerships role in Facebook’s financial services team in Singapore, according to her LinkedIn profile. Facebook’s recent foray into financial services – it launched Facebook Pay in 2019 and still plans to launch its controversial cryptocurrency Diem this quarter – has made it a potential headhunting ground for banks.

Tan worked for American Express between 2007 and 2013, latterly as director for international business development. She then spent four years as alliances director at Worldpay in Singapore.

The job market for people with payments experience is particularly hot as a range of firms ramp up their operations in Singapore, spurred on by the growth of digital payments during the pandemic. Global players TransferWise and Revolut have both opened Asia Pacific headquarters in the Republic. Local firms Grab and Razer are hiring developers for their popular payments apps. Banks are also building their own e-wallets as are a plethora of smaller fintech startups.

Facebook is still hiring payments specialists from banks in Singapore, however. Late last year it poached Milind Sanghavi, OCBC’s head of digital payments, as director of payment partnerships for APAC.

Image: unsplash

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