(Bloomberg) -- 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.
To contact the reporters on this story: Elffie Chew in Kuala Lumpur at echew16@bloomberg.net;Joyce Koh in Singapore at jkoh38@bloomberg.net
To contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Ben Scent
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