Global private market exchange ADDX has appointed Mr Chew Sutat, former senior managing director at the Singapore Exchange (SGX), as its chairman. He has sat on the board of ICHX Tech since 2018 and chaired the ADDX platform’s listing committee since 2019.
ADDX Pte Ltd began regulated activities in September 2022, after it was approved by the Monetary Authority of Singapore to take over operations of the ADDX platform from ICHX Tech. Mr Chew will serve as chairman of ADDX Pte Ltd and board member of ICHX Tech concurrently. Mr Danny Toe will remain chairman and Chief Executive Officer (CEO) of ICHX Tech, while Ms Oi-Yee Choo will remain CEO of ADDX.
As chairman, Mr Chew will provide high-level guidance and leadership to help entrench ADDX’s position in the global private market space. He will work closely with the executive team to set the company’s strategic direction as well as drive growth and innovation, as the business looks toward regional expansion.
Mr Chew has 25 years of experience in the financial services industry, having served in various leadership roles throughout his career. With extensive experience at SGX, where he headed the global sales and origination team and managed the bourse’s international offices across 10 cities, he brings a wealth of strategic thinking and expertise to ADDX.
Prior to SGX, he held senior roles at Standard Chartered Bank, OCBC Securities and DBS Bank. He is currently a lead independent director at Yangzijiang Financial Holding and board member at Income Insurance. He also serves actively in the social sector through various National Council of Social Service committees.
Headquartered in Singapore, ADDX is on a mission to make investing fairer by democratising private markets. 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 in a scalable and commercially viable manner, bringing minimum investment sizes down from US$1 million to as low as US$1,000 and thereby widening investor access to the private markets.
To date, ADDX has listed more than 70 deals on its platform and worked with blue-chip names such as Hamilton Lane, Partners Group, Investcorp, Singtel, UOB, CGS-CIMB, as well as Temasek-owned entities Mapletree, Azalea, SeaTown and Fullerton Fund Management. Asset classes available on ADDX include private equity, hedge funds, venture capital, private credit, real estate, debt and structured products.
