SGX chief regulatory officer quits to join Abu Dhabi Global Market

SINGAPORE Exchange (SGX) chief regulatory officer Richard Teng has resigned, less than a year after being promoted, to become chief executive of Abu Dhabi Global Market Regulator.

Mr Teng, who took on his current role in January following the retirement of former SGX chief regulatory and risk officer Yeo Lian Sim, will leave on Feb 28, 2015.

SGX said it is currently reviewing candidates.

SGX chief executive Magnus Bocker said of Mr Teng: "During his seven years with SGX, Richard made significant contributions to our success as a worldclass market regulator. He was instrumental in establishing a direct listing framework for China-incorporated companies on the exchange, introducing a regulatory framework for secondary listings and augmenting safeguards in the stock market. While we will all miss him, we are also very proud that he has been presented with the opportunity to shape the regulatory landscape internationally. We wish him all the best in his new assignment."

Abu Dhabi Global Market is a financial zone aimed initially at the private banking, wealth management and asset management sectors and which will formally launch in 2015.