atans1

Why SGX keeps on messing-up? Too many FT cooks in the kitchen?

In Infrastructure, Uncategorized on 04/12/2014 at 1:25 pm

It has three FTs in the most impt areas:

— CEO is ang moh FT, brought in for his tech expertise;

— president (COO) is Indian FT (Anyone knows his background?); and

— Chief Operations and Technology Officer is Indon FT (Brought in for his financial expertise*?)

Btw, when the first computer cock-up happened and TRE KPKBed about the Chief Operations and Technology Officer’s lack of hands-on IT experience, I pointed out to Richard Wan that by that line of reasoning, Richard, an IT scholar, shouldn’t be handling editorial matters at TRE.

At the National Youth Integration Forum on 22 November, Social and Family Development Minister Chan Chun Sing spoke to some 300 local and foreign tertiary students at the ITE College East, urging them (and other S’poreans) to embrace the opportunity to learn from foreigners, “They can share different perspectives and provide new ideas. The interplay of those ideas with our ideas will help Singapore stand out as a global city.”

So S’poreans can learn from these three-highly paid Foreign Trashes that its OK to balls-up** continuously and still not get the sack?

Bet you some true-blue S’porean manager will be held responsible for the IT cock-ups. Taz why SGX still has Singkies,  need scapegoats for FTs. FTs can do no wrong.

Pmk should say to these three FTs:

We command ye therefore, upon the peril of your lives, to depart immediately out of this place.

Go, get you out! Make haste! Ye venal slaves be gone! So! … lock up the doors.

In the name of God, go!

———-

*Going by his CV (courtesy of TRE)

In September 2012, SGX announced the appointment of Timothy Utama as its Chief Operations and Technology Officer, effective 1 December 2012 [Link]. Mr Utama joined SGX’s senior management team and reported to the Chief Executive, Magnus Bocker.

“We are pleased to welcome Mr Utama to our management team. His diverse and global experience and knowledge will help further improve our operations and technology capabilities,” Mr Bocker then said.

Mr Utama actually started his career in banking with Bank of Trade (LippoBank) as Senior Credit Analyst/Account Executive in Los Angeles from 1989 to 1991 [Link].

In 1991, he joined Standard Chartered. For the next 13 years, he held various positions there:

  • SCB Indonesia from 1991 to 1992
  • Profit Improvement Unit Officer SCB Regional Singapore, Malaysia and Indonesia from 1992 to 1993
  • Head of Trade Services from 1993 to 1995
  • Senior Manager Middle Market from 1995 to 1997
  • Senior Manager, Trade Products Group Trade Banking from 1997 to 1998
  • Head of Service Delivery from 1998 to 2000
  • Head of Global Clients from 2000 to 2002
  • Head of Banking Operations from 2002 to 2003
  • Senior Manager, Service Excellence from 2003 to 2004

He then moved to ANZ Bank in 2004 for the next 4 years:

  • Head of Trade Service Delivery from 2004 to 2007
  • Head of Trade Sales from 2007 to 2008

He rejoined Standard Chartered in 2008 as the Head of Wholesale Banking Operation of Standard Chartered India based in Chennai.

After his stint with Standard Chartered, he joined Indonesian bank PT Bank Permata Tbk in 2010. There, he was on its Executive Board of Directors as their Technology and Operations Director from 2010 to 2012. In December 2012, he jumped ship to SGX where he now serves as its Chief Operations and Technology Officer.

Mr Utama holds a Bachelor of Business Administration in Accountancy and Finance from Texas A&M University, College Station, USA.

**Partial list of balls-up

— attempted takeover of ASX

— Thai exchange now biggest exchange in SE Asia

— penny stock fiasco

— not many major IPOs

— two computer failures in two months

 

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  1. so, how many months of bonuses will all these senior & junior “ft” men at sgx get in Dec ’14/Jan15 ?

  2. average 12 months bonus.

    they all also got platinum parachute so even if kenna fired also no problem.

  3. Yeah, that’s it. Blame the foreigners. Because there’s a correlation between being foreign and screwing things up.

    Oh, wait. No there isn’t.

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