Avanda Investment Management co-founder Sung Cheng Chih to become SGX RegCo’s second chair

[SINGAPORE] Dr Sung Cheng Chih, a former chief risk officer of GIC and co-founder of global asset manager Avanda Investment Management, will take over as chairman of the Singapore Exchange Regulation (SGX RegCo) from Thursday (Jan 1).

Dr Sung has been on the board of SGX’s regulatory arm since Jan 1, 2025. He succeeds founding chairman Professor Tan Cheng Han, who is relinquishing the role after almost nine years on the board, SGX Group said on Wednesday.

Prof Tan is chief strategy officer and a former dean of the National University of Singapore Faculty of Law. He is also a senior consultant at Wong Partnership.

Last week, he was endorsed and accepted as the president of the Law Society of Singapore.

“Serving as the first chairman of SGX RegCo has been an honour,” he said, noting that it is now seen as a “trusted independent regulator, driving governance improvements and greater investor participation”.

It has “etched a path towards more market discipline, board renewal and diversity”, he added, also saying that Dr Sung will lead it in “making further inroads as a market regulator and developer”.

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“This is a company whose policies and actions are closely intertwined with the reputation of, and confidence in, Singapore’s capital markets,” Dr Sung said, acknowledging SGX RegCo’s contributions to the equities market review group under Prof Tan’s leadership.

He added that he will strive to steer it through the implementation of the review group’s recommendations, which are aimed at “further enhancing and developing our marketplace”.