Ray Ferguson left the banking world and returned to Asia to explore exciting fintech opportunities.
What’s your story?
I am the Founder of Caber Partners, a Singapore based MAS Licensed Fund Manager and Financial Advisor investing and working with companies focused exclusively on the intersection of finance and technology. I work specifically in the areas of payments, insurance, wealth management, alternative lending and blockchain.
I am also Chairman of Singapore Life which was founded last year. It is the first new local life company in Singapore. Concurrently, I chair Youtap a business which is creating a cashless e-money processing backbone providing real-time interoperable settlements of all consumer e-money payments to the merchants, e-money providers, retail and FMCG distribution groups, and banks across emerging markets.
My 30 year journey as a banker had its main leg with Standard Chartered Bank, where I held multiple country chief executive and regional leadership roles across four continents. I spent 6 years as Regional CEO, South East Asia and Chief Executive, Singapore. After Standard Chartered, I moved to Bank ABC, Bahrain and assumed the role of Group Chief Banking Officer where I took care of the group’s banking businesses worldwide.
Last year, I decided to step down after 3 years from my role with Bank ABC to return to Asia to pursue interesting and exciting opportunities that fintech disruption was providing.
What excites you most about your industry?
The sheer pace of technological innovation in the financial sector, and how it is up-ending the traditional models and traditional players. There are huge implications and benefits for efficiency, transparency and importantly financial inclusion which will drive growth in emerging markets.
What’s your connection to Asia?
I have lived in and worked in Asia for more than 30 years. I first came to Singapore in 1994 and today I am a proud Singapore citizen, and to me Singapore is home.
Its an invigorating environment. Asia is in the middle of an historic transformation. If it continues to follow its recent trajectory, by 2050 its per capita income could rise sixfold in purchasing power parity (PPP) terms to reach Europe’s levels today. It would make some 3 billion additional Asians affluent by current standards. By nearly doubling its share of global gross domestic product (GDP) to 52 percent by 2050, Asia would regain the dominant economic position it held some 300 years ago, before the industrial revolution. This is a big deal and I’m excited to be part of it!
Favourite city in Asia for business and why?
Definitely Singapore! Singapore is known for being a business-friendly country and it was crowned the best country in World Bank’s “Ease of Doing Business List” and ranks as the top 3 in the World Economic Forum’s “Global Competitive Index.” Singapore is an attractive hub, for both businesses and has a great community to live in.
What’s the best piece of advice you ever received?
Listen intently and you will know what you don’t know.
Who inspires you?
What have you just learnt recently that blew you away?
That the global mobile wallet market was valued at approximately USD 594 billion in 2016 and is expected to reach approximately USD 3,100 billion by 2022, growing at a CAGR of around 32% between 2017 and 2022.
If you had your time again, what would you do differently?
I would have learnt to code.
How do you unwind?
Exercise, golf and sailing large catamarans.
Favourite Asian destination for relaxation? Why?
Phuket. Easy to reach, Thai people and service, breadth of choice of locations/accomodation and great sailing weather.
Everyone in business should read this book:
Good to Great – Jim Collins. It’s about how companies transition from being good companies to great companies, and how and why most companies fail to make the transition.
Shameless plug for your business:
Caber Partners team is uniquely connected with our networks and experience in fintech markets, investing and banking and business growth solutions throughout Asia and across the emerging world.
How can people connect with you?
Come connect with me through my LinkedIn at https://www.linkedin.com/in/rayfergusonscb
This interview is part of the ‘Callum Connect’ series of more than 500 interviews
Callum Laing is an entrepreneur and investor based in Singapore. He has previously started,
built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.