STACS Bags Banking Veteran as the New Head of Business Development

STACS (Securities Trading Asset Clearing & Settlement), the Singapore-based enterprise blockchain development firm, has confirmed hiring banking expert, David Teo, as their Business Development lead.

Jay Ng, the Managing Director of STACS, stated:

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 the 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.

Teo will be in charge of driving the firm’s overall business germination by enhancing the development of its network of financial institutions stationed on the STACS Network.

STACS is an established blockchain built for enterprise market usage. It empowers financial institutions in various Blockchain use cases with new revenue and efficiency, generating use cases focused on securities and capital markets.

Teo has been in practicing financial services for over 20 years in global financial institutions (particularly, BNP Paribas Securities Services, The Bank of New York Mellon, Moody’s Investors Service, Bank of China, and National Australia Bank). He has earned leadership experiences and various products/services knowledge in his career and has also demonstrated his skills at work in regional coverage (Asia) involving the multi-cultural environment and highly diverse organizations. He also has considerable financial knowledge on corporate banking, investment/custody services, retail & private banking, credit rating services, and many more.

Previously, STACS has also included in their team, Andrew Pal, the former CEO of UBS Futures Singapore, as the Chief Strategy Officer, and employed Joanne Koh, the finance veteran (ex-GIC, Aviva, KGI, etc.) as the Operations Director. And now, with the inclusion of David Teo, STACS is well-equipped to propel into its subsequent phase of rapid market adoption of the production-ready and stand-alone STACS Network and its range of technologies.