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CGS-CIMB Securities Group CEO named as Executive of the Year for Brokerage at SBR Management Excellence Awards

Her visionary leadership, relentless push for innovation, passion for the community, and people-oriented leadership drives the Group’s sustainable growth model 

Carol Fong, Group CEO of CGS-CIMB Securities (CCS or the Group), has been honoured with the prestigious title of Executive of the Year - Brokerage at the SBR Management Excellence Awards. This award recognises her exceptional leadership and outstanding contributions to the company's remarkable growth and transformation. 

Under her leadership, CCS has evolved from a traditional brokerage into an award-winning integrated financial services provider, garnering over 170 awards since 2018 from respected institutions such as Alpha Southeast Asia, FinanceAsia, The Asset, and SIAS. In 2022, CCS was recognised as the most awarded broker in ASEAN in Asiamoney's Brokers' Poll.

Fong, a financial industry veteran with over 33 years of experience, has played a pivotal role in the remarkable transformation and success of CCS. She is also the Chairman of the SGX Securities Advisory Committee and was conferred the IBF Distinguished Fellow award in 2016, a recognition of her outstanding contributions to the financial industry.

Before assuming her role as Group CEO of CCS in 2018, Carol was Group CEO of CIMB’s securities and equities business since 2008, as well as Group Head of Equities and Singapore Investment Banking of CIMB Group, CEO of CIMB Securities Singapore and Director of CIMB Securities International. She has guided the businesses through three mergers and acquisitions, with the latest being the most successful and profitable. 

One of the defining achievements of Fong's career was orchestrating the onboarding of China Galaxy Securities Group (CGS Group), the third largest securities firm in China, as a strategic investor in 2018. This move created the CGS-CIMB joint venture company, CCS, and marked a significant pivot in the company's direction, leading to it achieve a leading market share in ASEAN.

A significant aspect of Fong's leadership has been her commitment to transforming the business from a traditional brokerage into an integrated financial services provider. Under her guidance, CCS has expanded its product offerings, reaching beyond retail and institutional investors to serve high-net-worth individuals and family offices. Furthermore, her efforts have expanded the company's footprint to include strategic partnerships in the UK, US and Australia, providing clients with a wide range of investment opportunities.

Recognising the growing significance of environmental, social, and governance (ESG) considerations, Fong also appointed the Group's first ESG Head. This strategic move reflects her commitment to embedding sustainability throughout the company's ethos. The integration of ESG metrics into research reports, launch of the world's first ETF to track the FTSE Asia Pacific Low Carbon Select Index and rollout of the Group’s five-year sustainability roadmap in 2023, are testaments to this commitment.

Finally, her leadership extends to nurturing and strengthening the company's workforce. She introduced the organisation’s PACES (People-oriented, Accountability, Collaboration, Excellence, Sustainability) core values to foster a sense of community and belonging amongst employees. The annual Employee Engagement & PACES Survey has further enhanced workplace engagement, leading CGS-CIMB Singapore to clinch the Excellence in Workplace Culture at the HR Excellence 2022 award awarded by Human Resources Online. She has also earned a high CEO approval rating on Glassdoor. Her various HR initiatives have built a cohesive, loyal and diverse workforce of over 2,100 staff comprising 16 nationalities across the region. 

Fong's achievements and contributions have not only solidified her position as a beacon of excellence in the financial industry but have also propelled CCS to become one of the leading securities firms in the region.

The SBR Management Excellence Awards is presented by Singapore Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's employee engagements and management initiatives, please contact Julie Anne Nuñez at [email protected].

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