CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2021 CORPORATE GOVERNANCE 28 29 BOARD OF DIRECTORS positions in various stockbroking firms. She is also currently the Chairman of the Singapore Exchange Securities Advisory Committee and is also appointed as an Independent Director of mainboardlisted Genting Singapore. Ms Chan was con fe r red the I BF Distinguished Fellow award in 2016. The IBF Distinguished Fellow is a significant role model who serves as a beacon of excellence for the financial industry. She holds a Bachelor of Arts degree from the National University of Singapore and a Diploma in Personnel Management. Ms Chan also obtained the Executive Diploma in Directorship from Singapore Management University – Singapore Institute of Directors in 2018. TANG AI AI MRS WONG AI AI, 58 Independent Non-Executive Director First appointment as Director 1 January 2022 Last re-election as Director N.A. (Will be seeking re-election at the 2022 Annual General Meeting) Board committees • Nominating Committee (Member) • Board Sustainability Committee (Member) Present directorships in other listed companies* and principal commitments • Baker & McKenzie.Wong & Leow (Principal) • Singapore Tourism Board (Director) • PSA International Pte Ltd (Director) Since 1973, he has held senior positions with international hotel chains including InterContinental Hotel Group, Hilton, Shangri-La, Millennium & Copthorne Hotels Group, Ful lerton Hotels and Resorts and TCC Hotels Thailand and has worked in various countries around the world. His responsibilities in the Corporate offices included regional hotel operations, finance, marketing, human resource, food & beverage (F&B) and asset management . Current ly, Mr Desbaillets is the Executive Chairman of family-owned businesses in the F&B industry, FreshCreationHoldings Pte. Ltd. and Salad Stop Pte. Ltd., which have 65 out lets in Singapore, Malaysia, Indonesia, Phi l ippines, Hong Kong, Japan, South Korea, Vietnam and Spain that are owned, franchised and under joint ventures. He holds a Diploma in Commercial Studies from Ecole Benedict Geneva, Swi tzer land and a Cert i f icate wi th Distinction in Service, Food Production and Administration from Lausanne Hotel School, Switzerland. CHONG YOON CHOU, 54 Independent Non-Executive Director First appointment as Director 20 November 2020 Last re-election as Director 30 April 2021 Board committees • Audit & Risk Committee (Member) • Nominating Committee (Member) • Board Sustainability Committee (Member) Present directorships in other listed companies* and principal commitments • Leanne Capital Pte. Ltd. (Founder/Director) Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Ostrum Asset Management Asia Ltd. (Chief Investment Officer, Equities) • Aberdeen Standard Investments (Asia) Limited (Investment Director) Mr Chong s t a r t ed h i s c a r ee r a t Abe rdeen St anda rd I nves tment s (Asia) Limited in 1994 as an analyst and fund manager on Asian equities. He was later transferred to Sydney as Head of Aust ral i an Equi t i es in 2001. Subsequently, he held roles in London, Edinburgh and Philadelphia as Head of Pan-European Equi t ies and Head of Developed Markets exAsia, before returning to Singapore in 2008 as Investment Director where he oversaw equi ty investments in seven regional offices. He was also the Managing Director of Aberdeen Asset Management Malaysia. Throughout his stint with the company, Mr Chong was i nvo l ved i n many restructuring initiatives in Australia and Europe whilst spearheading investment teams in various M&A projects such as the acquisition of Edinburgh Fund Managers in 2005, Deutsche Asset Management UK in 2006, Philadelphia Nationwide Financial Service US in 2007 and Credit Suisse Asset Management in 2009. He was also responsible for setting up the group’s research systems and led in transition projects during Europe’s implementation of Markets in Financial Instruments Directive II (MiFID II). Mr Chong’s 28 years of extensive experience in managing assets and funds also included his management of Asian and Emerging market equities at Ostrum Asset Management Asia Ltd, part of the Natixis Investment Management group with USD 1 trillion of funds under management. Mr Chong graduated from the London School of Economics with a Bachelor of Science (Economics) in Accounting & Finance, a Master of Science in Finance and a Master of Science in Information Systems . He i s a l so a Char tered Financial Analyst and has Leadership Development certifications at Harvard Business School and INSEAD. In 2021, h e h a s c omp l e t e d t h e I NS EAD International Directors Programme. CHAN SWEE LIANG CAROLINA (CAROL FONG), 60 Independent Non-Executive Director First appointment as Director 29 December 2020 Last re-election as Director 30 April 2021 Board committees • Remuneration Committee (Chairman) • Audit & Risk Committee (Member) Present directorships in other listed companies* and principal commitments • CGS-CIMB Securities (Singapore) Pte Ltd (Group Chief Executive Officer) • Genting Singapore Limited* (Independent Non-Executive Director) Other appointments • Leukemia and Lymphoma Foundation (Board Member, Honorary Treasurer and Chairperson, Finance Subcommittee) • Singapore Exchange Securities Advisory Committee (Chairman) Past directorships in other listed companies* and principal commitments held in the preceding five years • Nil Ms Chan has more than 30 years of experience in investment banking and financial markets. Currently the Group Chief Executive Officer of CGS-CIMB Securities, she is responsible for the overal l management and f inancial performance of the CGS-CIMB Securities group’s equities business, a regional franchise covering Asia Pacific (ex-Japan), as well as offices in London and New York. Ms Chan is also a Non-Executive Director of Leukemia & Lymphoma Foundation. Before this, she was the Singapore Country Investment Banking CEO of CIMB Group, where she was responsible for building up their investment banking business and management of key client and regulator relationships in Singapore. Ms Chan’s career began at OverseaChinese Banking Corporation and she has since held several senior managerial Other appointments • Climate Governance Singapore Limited (Director) • Justice of the Peace Past directorships in other listed companies* and principal commitments held in the preceding five years • Baker McKenzie (Member of Global Executive Committee and Chair of Asia Pacific Region) • Singapore Tyler Print Institute (Board Member) • Yellow Ribbon Fund (Chairman) Mrs Wong is one of Baker McKenzie. Wong & Leow’s most distinguished lawyers, with a career that spans leading a range of landmark transactions for blue-chip clients, to global management and leadership roles at the highest levels of Baker McKenzie, including serving as a member of Global Executive Committee and Chair of the Asia Pacific Region. Her legal expertise includes mergers and acquisi t ions, venture capital and private equity, hotels and real estate, and capital markets. U n d e r h e r l e a d e r s h i p , B a k e r McKenzie has built out an aggressive transactional strategy that has seen its transactional teams secure industry leading mandates , and win many accolades across the world, including in key centres such as London, New York, Par is, Germany, Japan, Hong Kong, China and Brazil. Mrs Wong was also instrumental in the development and implementation of the firm’s Belt & Road Initiative, Sustainability and Financial Institutions strategies. As a transactional lawyer, Mrs Wong has been recognised as a leading individual and eminent practitioner for Corporate/ M&A matters by publications including Chambers Asia Pacific, Legal 500 Asia Pacific and IFLR1000. Mrs Wong i s a founding steer ing c omm i t t e e memb e r o f C l i ma t e Governance Singapore Limi ted, an initiative led by World Economic Forum to educate non-executive directors on the opportunities and challenges for their companies arising from climate change and its consequences. She is also a Justice of the Peace. She graduated from the University of Kent, with a Bachelor of Arts in Law First Class Honours, and holds a Master of Law from Harvard University Law School . She is admitted to practice in Singapore, New York, England and Wales (Grays Inn).
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