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Singapore-based private market exchange, ADDX, has announced the appointment of Chew Sutat as its chairman, according to a statement on Thursday.
With a distinguished career in the financial services industry, including senior leadership roles at the Singapore Exchange (SGX), Chew brings a wealth of expertise to ADDX as the company aims to solidify its position in the global private market space and drive regional expansion.
ADDX, headquartered in Singapore, aims to democratize private markets by leveraging blockchain and smart contract technology. By reducing manual interventions in the issuance, custody, and distribution of private market products, ADDX improves operational efficiency and enables fractionalized investments, thereby lowering the minimum investment size from US$1 million to as low as US$1,000. This approach widens investor access to private markets and helps bridge the gap between public and private investments.
Since its inception, the exchange has listed over 70 deals on its platform and collaborated with renowned 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. The platform offers various asset classes, including private equity, hedge funds, venture capital, private credit, real estate, debt, and structured products.
ADDX Pte Ltd, the regulated entity that took over operations from ICHX Tech in September 2022, received approval from the Monetary Authority of Singapore (MAS) for its activities. Chew, who has been serving on the board of ICHX Tech since 2018 and chairing ADDX platform's listing committee since 2019, will now assume the role of chairman for ADDX Pte Ltd and a board member of ICHX Tech concurrently. Danny Toe will continue to serve as chairman and Chief Executive Officer (CEO) of ICHX Tech, while Oi-Yee Choo remains the CEO of ADDX, according to the announcement.
As chairman, Chew will provide high-level guidance and leadership to entrench the exchange's position in the global private market space, ADDX said. Working closely with the executive team, he will help set the company's strategic direction, foster growth, and drive innovation as ADDX looks to expand its operations beyond Singapore.
With 25 years of experience in the financial services industry, including his tenure at SGX where he led the global sales and origination team, managed international offices across 10 cities, and contributed to transforming SGX into a global multi-asset exchange, ADDX said Chew's strategic thinking and expertise will be instrumental in its future endeavours.
Prior to his time at SGX, Chew held senior positions at Standard Chartered Bank, OCBC Securities, and DBS Bank. He currently serves as a lead independent director at Yangzijiang Financial Holding and a board member at Income Insurance.
ADDX, headquartered in Singapore, aims to democratize private markets by leveraging blockchain and smart contract technology. By reducing manual interventions in the issuance, custody, and distribution of private market products, ADDX improves operational efficiency and enables fractionalized investments, thereby lowering the minimum investment size from US$1 million to as low as US$1,000. This approach widens investor access to private markets and helps bridge the gap between public and private investments.
Since its inception, ADDX has listed over 70 deals on its platform and collaborated with renowned 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. The platform offers various asset classes, including private equity, hedge funds, venture capital, private credit, real estate, debt, and structured products.
