GARY TAN, STANDARD CHARTERED HEAD OF FINANCIAL MARKETS, DIES AT 42

Gary Tan, head of financial markets in Singapore for London-based Standard Chartered Plc (STAN), has died. He was 42.

His death was announced in a company memo, the contents of which were confirmed by spokeswoman Lim Siow Joo. He died on Sept. 17, according to a death notice in today’s Straits Times newspaper that included his age. No cause was given. According to the bank memo, Tan was with Standard Chartered for 19 years and “an important member of the Singapore country management team.”

Already a managing director, he became head of financial markets in April following eight months as head of global markets, according to a LinkedIn profile. In a 2013 news release announcing that appointment, the bank said Tan, a Singaporean, was also named to Standard Chartered’s Singapore management committee. The bank gets about three-quarters of its earnings from Asia.

“Gary has extensive knowledge of our network and regulatory and risk management experience,” Ray Ferguson, then Standard Chartered’s Singapore chief executive officer, said in the announcement. “We look forward to his leadership in positioning the business for future growth.”

Economics Degree

Tan previously worked for the bank in Hong Kong and Thailand, according to the LinkedIn page. He began his career at Standard Chartered as a dealer in 1995, the year he received a bachelor’s degree in economics from the University of Manchester.

In a Sept. 1 article, the Straits Times quoted Tan on how the creation of the Shanghai Free Trade Zone had boosted yuan-related business for banks in Singapore.

“Say you have surplus funds onshore in China, but offshore you have an entity, say a subsidiary, that is borrowing money,” he said, according to the newspaper. “The bank can now act as an intermediary to bring funds out of China and pump it into your external unit.”

Paul Gary Tan Kim Loon was born on Dec. 1, 1971, according to the death notice. His parents were Bertha and George. He had three sisters: Michelle Georgie, Sharon Denise and Simone Tracy.

Bloomberg News