iSTOX a Singapore based start-up blockchain fintech and capital markets service provider recently revealed in an announcement that it has hired its first Chief Commercial Officer. The firm was founded by Singapore based leading investment firm ICH Group back in 2017 and is a part of its venture into blockchain industry and is run by is wholly owned subsidiary ICHX Tech, a blockchain based infrastructure firm. iSTOX is popularly known for its flagship product iSTOX platform which offers end to end issuance, custody and trading services for digitized securities and is a part of Monetary Authority of Singapore’s FinTech Regulatory Sandbox. The update was released via office press release last Thursday and stated that it had hired Ms. Choo Oi Yee to serve as its first Chief Commercial Officer. In her new role as Chief Commercial Officer, the incoming executive is responsible for leading the firm’s overall business growth. The incoming executive is yet to join the Singapore based fintech start-up and will begin her official term at the firm in January 2020.
As Chief Commercial Officer, Ms. Choo is expected to achieve her responsibilities and objectives by building a network of investors and issuers for the firm. Ms. Oi Yee is currently serving as Managing Director & Head of UBS Investment Bank in the firm’s Singapore office and has been a part of UBS for nearly six years now. She began her role as head of Singapore investment banking back in February of 2014 and is also serving as a Board Member of Civil Aviation Authority of Singapore since November of 2016 alongside her existing roles & responsibilities as per information in her LinkedIn profile. Ms. Oi Yee is a veteran with twenty three years of experience in financial service industry and has spent nearly two decades serving in leadership and management level roles. Some of her other notable roles include – Executive Director of Morgan Stanley and Nomura Singapore Ltd, Group Senior VP / Head of Strategic Planning and Business Development at Parkway Holdings Ltd and Vice President of Citi Group’s Investment Banking Division. Ms. Choo’s appointment comes at important period for the company has it had initiated its strategic plans to grow its base of issuers and investors while also working toward graduation from MAS’s Fintech regulatory Sandbox by early 2020.
Speaking about her new role at the firm, Ms. Oi Yee commented, “I see some truly fundamental changes on the horizon for capital markets and I believe that Singapore — and the iSTOX team — are uniquely well positioned to take advantage of them. I’m very excited to be joining the team and look forward to helping iSTOX grow into the platform of choice for 21st century issuance and investment”. Speaking on same note, Danny Toe – Founder and CEO of ICHX commented, “It was clear to us that we needed someone with Oi Yee’s stature, reputation, and experience for our CCO role. Among other requirements, we needed someone with deep securities, issuance, and trading experience at a very senior level; someone with outstanding relationships with major institutional investors, business leaders, family offices, and others; and, most importantly, someone with a deep and instinctual understanding of the challenges and opportunities facing issuers and investors.” While Co-Founder and Chief Strategy Officer Mr. Darius Liu added, “We are pleased to welcome Oi Yee to the team as we open up applications for iSTOX investor accounts and plan an exciting issuer pipeline ahead of our projected sandbox graduation early next year”.
