UBS managing director set to join Temasek-backed startup iSTOX

Oi Yee Choo

UBS Group AG’s Singapore investment banking chief Oi Yee Choo is set to join iSTOX, a trading platform backed by Temasek Holdings Pte.

Choo will join iSTOX in January as its chief commercial officer and will help drive business growth by building its network of investors and issuers, according to a statement from the company, confirming an earlier Bloomberg report.

The dealmaker, who was a managing director at UBS, is leaving the investment banking industry after six years at UBS, according to an internal memo from the Swiss bank obtained by Bloomberg.

She will continue to be with UBS until the end of the year, and her clients and functional responsibilities will be reassigned “in due course,” UBS Southeast Asia investment banking head Lauro Baja wrote in the memo. A representative for UBS confirmed the contents of the memo, declining to comment further.

Choo, who has about two decades’ experience in the finance industry, previously worked at Morgan Stanley and Nomura Holdings Inc., according to her LinkedIn profile. A representative for iSTOX declined to comment.

iSTOX offers issuance, settlement, custody and trading of digitized securities and is a recognized market operator within Monetary Authority of Singapore’s FinTech Regulatory Sandbox. The firm counts Heliconia Capital Management Pte, a subsidiary of Temasek, and Singapore Exchange Ltd. among its shareholders.

UBS ranked fourth among arrangers of equity and rights offerings in Singapore so far this year, up from 10th place in 2018, according to data compiled by Bloomberg.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.