Stan Chart turns tables on tech firms, hires from Ant
In the battle for digital transformation talent in Singapore, large technology firms don’t always have it their own way.
A case in point is Judy Stonebridge-Dunne, who joined Standard Chartered earlier this month from Ant Group as global head of change and transformation, transactional banking, according to her LinkedIn profile. Her new roles sits within the corporate, commercial and institutional banking (CCIB) division.
Stonebridge-Dunne had been with Chinese tech giant Ant since November 2019, latterly as delivery and tech director. While she spent most of her career, which spans more than 25 years, in the corporate sector, she worked for HSBC as global head of delivery for digital transactional services in 2017/2018.
Standard Chartered bases many of its senior transformation specialists in Singapore, which is a key global hub for its leadership roles. As we reported in March, Aniruddha Paul joined the firm from ING as global head of enterprise transformation.
SCB is not the only bank which has been hiring senior transformation specialists in Singapore. In January, Rusli Ang joined DBS as an executive director and head of Singapore digital technology and transformation. His hire followed that of Imran Zaffar, who moved to OCBC from McKinsey as head of agile transformation.
People with transformation expertise are in strong demand in the banking sector in Singapore and globally as established financial institutions boost their tech budgets and look to innovate in the face of competition from fintechs. HSBC wants to “digitise at scale” as a core pillar of its strategy, for example.
Standard Chartered, DBS, OCBC and UOB – as banks that largely execute their digital strategies out of Singapore – are particularly strong recruiters in the transformation space. Local, Western and Chinese Tech firms, including Ant – which launched a digital bank in Singapore earlier this month – are also hiring.
But there’s a limited talent pool of people with the right combination of business expertise and technical knowledge to fill transformation roles, which has created a merry-go-round of talent. As we’ve reported, banks can find it hard to retain their digital transformation specialists, who complain that they’re hindered by bureaucracy and are sidelined by existing business owners.