UAE ADGM former CEO joins as advisor to Blockchain Association Singapore and UAE Based Lulu Financial Holding

The Former CEO of Abu Dhabi Global Market, Mr. Richard Teng has now joint Blockchain Association Singapore (BAS)  as a member to its Advisory Board. Mr Teng brings with him vast experience in the financial and fintech sectors across multiple countries. His appointment also coincides with growing institutional interest, rapid innovation, and tightening of regulations within the digital asset sector. Mr Teng’s appointment will expand the current Advisory Board of BAS to three members. He was also recently appointed as an Independent Director to the Board of UAE-based LuLu Financial Holding, driving the global diversification and investment strategy of the financial services sector. 

 

Marc Cutis is the new CEO for UAE Based ADGM ( Abu Dhabi Global Market) since June 1st 2021.Mark will be responsible for key functions including Corporate Services, the Office of Strategy and Business Development and the Office of Information Security and Enterprise Risk Management. Mark brings over four decades of experience to this new role working in senior positions across multiple financial capitals, including New York, London, Frankfurt, Tokyo, Moscow, and Abu Dhabi. His core expertise is asset allocation, proprietary trading and ALM. Prior to joining ADGM, Mark was part of the leadership team of key organisations in Abu Dhabi including: Group Chief Financial Officer at Abu Dhabi National Oil Company and Chief Investment Officer at Abu Dhabi Investment Council where he set up the de novo Special Situations Unit focused on investing in one-off idiosyncratic opportunities globally.

 

Mr Teng has previously served as the Chief Regulatory Officer of the Singapore Exchange (SGX), overseeing the development of policies, framework and rules across the areas of listing, trading, clearing and settlement. Prior to his stint at SGX, he was the Director of Corporate Finance at the Monetary Authority of Singapore, where he was responsible for the formulation and administration of the Securities and Futures Act in relation to the offering of securities, business, and real-estate investment trusts, as well as collective investment schemes.

 

Mr. Teng has also played a significant role in driving the fintech and financial services sector on an international scale. During his time at the ADGM, he was in charge of developing innovative regulatory regimes and offerings, bridging gaps in the finance ecosystem. He was also recently appointed as an Independent Director to the Board of UAE-based LuLu Financial Holding, driving the global diversification and investment strategy of the financial services sector.

 

Commenting on the appointment, Mr Chia Hock Lai, Co-Chairman, Blockchain Association Singapore, said, “Singapore is a jurisdiction that has strict regulations with clear and transparent guidance on digital assets. Mr. Richard Teng’s experience will be a valuable asset in our journey to build a conducive ecosystem, encouraging legitimate players to discover solutions and promote best practices in a collaborative, open, and transparent manner.”

 

Speaking on his appointment, Mr. Richard Teng said, “It is a privilege to join the Advisory Board of Blockchain Association Singapore. I look forward to providing strategic guidance to the BAS in promoting education, exchange of ideas, and thought leadership in the areas of blockchain and digital assets.”