Bank MD returns to Singapore for wealth fund tech role
The Christmas and New Year's period is a tough time to move jobs, but an even tougher time to move countries. The latest hire by Singapore sovereign wealth fund GIC has done both.
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Harsh Verma has joined GIC as an MD and head of technology infrastructure and platform services. He spent the last 15 months as a managing director (MD) and CIO for Australia and New Zealand at Japanese bank MUFG.
The role marks a return to Singapore for Verma, who spent 23 years working across banks in the city. The bulk of that, 13 years, was spent at Credit Suisse, where he led transformation in the incident management team. He also had executive director stints at UBS and JPMorgan, before moving up to MD as MUFG's APAC head of technology infrastructure services.
GIC has a reputation for being more cautious than its peers, but that can have its perks. Bloomberg reported last month that the fund was able to spot that FTX, the crypto firm led by Sam Bankman-Fried, was fraudulent, when no others in the space seemed to do the same.
Verma might have his work cut out for him. Recent Glassdoor reviews for GIC said the firm has "a sea of broken processes" in its tech function and an abundance of "red tape."
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