CWT Appoints Jeremy Ang as CEO of Straits Financial Group
CWT Limited (“CWT”), a leading provider of integrated logistics solutions, announced April 19 the appointment of Jeremy Ang as the Chief Executive Officer (CEO) of Straits Financial Group (“Straits”). Straits is the financial services arm of CWT offering commodity broking, clearing and risk management solutions. Ang will be responsible for steering and growing Straits businesses globally. Hewill report to Loi Pok Yen, Group CEO of CWT Limited.
“Jeremy is a highly-regarded industry veteran who brings a wealth of experience and is a great fit for his new role to helm and build our financial services business in the global derivatives market,” said Loi. “His leadership and comprehensive knowledge of the industry, backed by a team that includes some of the most experienced futures industry players, will be invaluable in developing Straits’ presence in Asia and beyond.”
Ang said he is excited with this new opportunity and looks forward to spearheading CWT’s financial services business. “Straits’ offering of commodity broking, clearing and structuring services are a logical next step to CWT’s existing logistics and warehousing business. The ability to combine both CWT’s and Straits businesses, strengths and capabilities presents new and interesting high growth business opportunities. I am confident that as a Group, we are well-positioned to deliver greater value to our current and prospective customers.”
Ang has well over 26 years’ of experience working in the futures industry, having held leadership positions in brokerage firms and exchanges. Before joining CWT, he held dual positions as Executive Director of Commodities at the Singapore Exchange (SGX) and CEO of the Singapore Commodity Exchange (SICOM).
Prior to SGX, Ang served as Managing Director for the Derivatives & Group Treasury at DBS Vickers Securities (Singapore) Pte Ltd. His launch pad into the futures industry started at REFCO (Singapore) Pte Ltd, where he worked for 20 years, first as a dealer, to eventually assuming the position as Executive Vice President of its Singapore office and holding senior management positions within the REFCO Group.
Straits Financial LLC, the Straits Group US subsidiary, was recently granted its Futures Commission Merchant (FCM) registration and membership approval by the National Futures Association (NFA). It has also been granted full clearing status by the both the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT). Straits is in the process of setting up broking agencies in Asia.