Change - Announcement of Appointment::Appointment of Group Chief Executive Officer and Executive Director

Issuer & Securities

Issuer/ Manager
IFS CAPITAL LIMITED
Securities
IFS CAPITAL LIMITED - SG1A35000706 - I49
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
12-Oct-2015 07:15:25
Status
New
Announcement Sub Title
Appointment of Group Chief Executive Officer and Executive Director
Announcement Reference
SG151012OTHRCJLD
Submitted By (Co./ Ind. Name)
Chionh Yi Chian
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Eugene Tan Hai Leng as the Group Chief Executive Officer and Executive Director of the Company

Additional Details

Date Of Appointment
12/10/2015
Name Of Person
Eugene Tan Hai Leng
Age
57
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board, on the recommendations of the Executive Resource and Compensation Committee (ERCC), approved the appointment of Mr Eugene Tan Hai Leng as the Group Chief Executive Officer and Executive Director of IFS Capital Limited.

Mr Eugene Tan was selected for the appointment following an active search process initiated by the Board and ERCC to identify the most suitable candidate for the position. Mr Eugene Tan has 32 years of experience in the banking industry. Mr Tan had held senior positions in various banks with banking experience that extended across the ASEAN region. From 1999 to 2013, Mr Eugene Tan was with Citibank Singapore, where he helped to start the commercial banking business in Singapore and was appointed in 2007 as the Managing Director for Commercial Banking to take charge of commercial banking businesses in ASEAN. Mr Eugene Tan was also accredited the status of Senior Credit Officer (SCO) in Citibank Singapore, in recognition of competency in Risk Management.

The Board is of the view that Mr Eugene Tan has the requisite qualifications, experience and credentials for the appointment as the Group Chief Executive Officer and Executive Director of IFS Capital Limited.
Whether appointment is executive, and if so, the area of responsibility
Executive. Responsible for the overall business and operations of the Company and its subsidiaries.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Chief Executive Officer and Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
1999 - 2013:
Citibank Singapore
Managing Director For Commercial Banking in ASEAN (appointment in 2007)
Shareholding interest in the listed issuer and its subsidiaries?
No
# These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8).
Past (for the last 5 years)
Nil
Present
Other Directorship:
Nil

Other Appointments:
Member, School Management Committee
Assumption Pathway School

Vice Chairman
Canossaville Children's Home
(a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner?
No
(b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency?
No
(c) Whether there is any unsatisfied judgment against him?
No
(d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose?
No
(e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach?
No
(f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part?
No
(g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust?
No
(h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust?
No
(i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity?
No
(j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
(i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or
No
(ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or
No
(iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or
No
(iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?
No
(k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere?
No
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
He will participate in the induction program of the Company for new directors appointed to the Board, to assist him in carrying out his duties as director of the Company.