CHAPTER 35 - Carving out Niches in the Banking & Finance Industry

Summary

“In the market, everyone is trying to make money off the other players. Had I not loved my job, I would have had a nervous breakdown.”

— Ho Tian Fui, CSE Pioneer

A NUMBER OF THE ALUMNI branched into the banking, finance, securities and insurance industry. Some did it soon after graduation while others made a switch along the way. The switch is no surprise given their strength in mathematics and analysis.

NTI pioneers graduated into a recession in 1985. For Leong Sow Hoe, the inability to get a job interview was a blessing in disguise. “I sent out many applications for five months and did not get a single interview,” he said. An unexpected door opened when a friend recommended him to go for an interview with Prudential. “He knew of my active campus life and thought that I would be suitable for sales,” said Sow Hoe. The friend was right. Sow Hoe elaborated, “I was impressed with the scope and financial rewards in the financial planning industry. I could be my own boss and chart my success.” He did very well. As a rookie, he made it to the Million Dollar Round Table — a feat by top performers — in 1986 and 1987. Sow Hoe found his calling. A series of promotion followed through the years and he is currently the Senior Financial Services Director at Prudential.

Joining Sow Hoe in the financial industry is Ho Tuck Chee, a civil engineer turned full-time trader. In December 1999, Tuck Chee passed an exam conducted by the Singapore Exchange and got a permit which allowed him to trade products such as Nikkei Index futures and Singapore MSCI futures. The career transition was nerve-wracking. He said, “I had neither trading experience nor proper training and it is a fact that most new traders fall out fast.”

Tuck Chee turned out to be a survivor with a short learning curve. He started making money after just three months of losses. With rising confidence, he tested his strategies for different market scenarios and hit pay dirt with a fair amount of success. He did not look back. In his third year, he was the third most active trader on the Singapore MSCI contract. By May 2006, Tuck Chee had set up his own company to qualify for tax concessions.