Arun Vasudevan, a veteran finance-sector strategist, has left GIC for JP Morgan. Vasudevan joined JPM in Singapore earlier this month as a program manager within its corporate and investment bank. His move comes as banks in Singapore step up their hiring of senior people with change management experience.
Vasudevan was with GIC for about two and a half years, working at senior vice president level as a program/change manager on “large enterprise-wide change initiatives”, according to his LinkedIn profile. His responsibilities included managing a scheme to integrate sustainability considerations into investment decision making across departments.
Prior to GIC, Vasudevan spent about six years at Goldman Sachs in Singapore, latterly at executive director level, a rank he now holds at JP Morgan. He first worked as a senior project manager within the technology team at Goldman Sachs Asset Management, and then as a program manager within operations change management.
Vasudevan began his career in 2001 and worked in project-focused jobs at Polaris Software and Fidelity Investments in India, before joining Goldman Sachs in 2006 for an initial 18-month stint in its Bengaluru office as a project manager. From 2008 to 2011, in between his two spells at Goldman, Vasudevan was a senior project manager within wholesale banking business solutions at Standard Chartered in Singapore.
In-house strategists and project managers like Vasudevan are in high demand at both local and global banks in Singapore as these firms pursue cost-cutting and digital-transformation initiatives. Standard Chartered, which makes most of its profits in Asia and its looking to trim $700m in costs, is among the most aggressive recruiters in the field. Earlier this year, it hired Pierre Paoli from Boston Consulting as its Singapore-based global head of strategic initiatives, for example.
If you have experience in digital strategy and transformation you are particularly sought after in Singapore, say recruiters. As we reported in August, Wai Lam Sham, who led corporate strategy for APAC asset management at Deutsche, joined DBS to help drive its digital transformation.
Image credit: Fredrick Suwandi, Unsplash
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