STACS, an enterprise blockchain development firm, hired banking veteran, David Teo, as its Head of Business Development.
David will be responsible for driving the firm’s overall business growth by further developing its network of financial institutions deployed on STACS Network.
STACS (Securities Trading Asset Clearing & Settlement) is a proprietary blockchain built for finance. STACS empowers financial institutions in various Blockchain use cases with a focus on securities and capital market use cases.
David’s hire comes at a pivotal time for the firm — STACS had earlier successfully deployed a 100% digital exchange for Gibraltar Stock Exchange. In the region, STACS gained traction in a relatively short period of time as a finance-focused blockchain.
STACS Managing Director Jay Ng said: “We are working on a few important blockchain projects in the securities and capital market space, which will be announced in the near future. These milestone projects will be catalysts to STACS being a fast-growing blockchain network for financial industry. We needed someone with David’s deep experience with a range of financial knowledge, especially on the ‘post-trade’ side of businesses. His outstanding relationships and understanding of financial institutions at a senior level will be invaluable.”
David has more than 20 years of financial services experience at global financial institutions (namely The Bank of New York Mellon, BNP Paribas Securities Services, Moody’s Investors Service, National Australia Bank, Bank of China). He has acquired not only leadership experiences and various products/services knowledge in his career, but has also proven his abilities to work in regional Asia coverage within multi-cultural environment and highly matrix organizations. He has a wide spectrum of financial knowledge including but not limited to investment/custody services, corporate banking, retail & private banking, credit rating services etc.
Previously, STACS also appointed banking veterans such as former CEO of UBS Futures Singapore, Andrew Pal, as Chief Strategy Officer and finance veteran (ex-GIC, Aviva, KGI), Joanne Koh, as Operations Director.
With the addition of David, STACS is well-placed to move into its next phase of rapid market adoption of the production-ready STACS Network and its suite of technologies.
STACS is a Singapore-based Blockchain development firm focusing on the digital transformation of the financial industry. Our flagship product, the Securities Trading Asset Clearing and Settlement (STACS) Network is a blockchain built specifically for Finance. Our vision is to be the underlying Distributed Ledger Technology on which Financial Market Infrastructure is built upon.
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