Singapore-based private market exchange ADDX has appointed Chew Sutat, former senior managing director at the Singapore Exchange, as its chairman.
Sutat has 25 years of experience in the financial services industry, having served in various leadership roles throughout his career. With extensive experience at SGX, he headed the global sales and origination team and managed the bourse’s international offices across 10 cities.
Prior to SGX, he held senior roles at Standard Chartered Bank, OCBC Securities and DBS Bank.
Using blockchain and smart contract technology, ADDX reduces manual interventions in the issuance, custody and distribution of private market products. The resulting efficiency from the use of digital securities allows the platform to fractionalise investments, bringing minimum investment sizes down from US$1m to as low as US$1,000 and thereby widening investor access to the private markets.
“I am delighted to join ADDX as chairman and to work with the team on strategies to increase liquidity and scale in the private market sector. ADDX has already made significant strides in this area and I am excited to work with the team to build on this success and bridge the gulf between public and private markets.
“Together, we will continue to drive growth and innovation to democratise private markets and unlock opportunities for investors,” said Sutat.