Richard Teng

Richard Teng
Richard Teng speaking at Binance Blockchain Week 2023 in Istanbul
Born1969 or 1970 (age 54–55)[1]
Singapore
Alma materNanyang Technological University
The University of Western Australia
OccupationCEO of Binance
EmployerBinance

Richard Teng is the chief executive officer (CEO) of Binance, a company that operates one of the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Previously, he worked for the Monetary Authority of Singapore and was chief regulatory officer of the Singapore Exchange and CEO of the Abu Dhabi Global Market.

Early life and education

Teng was born in Singapore.[2] He earned an accounting degree from Nanyang Technological University and a master's degree in applied finance from the University of Western Australia.[3]

Career

Teng was a civil servant and business executive in the financial and regulatory sectors for three decades.[4][5] He was the director of corporate finance at the Monetary Authority of Singapore, where he worked for thirteen years.[6] He later held multiple positions at the Singapore Exchange (SGX), including: senior vice president, head of issuer regulation, chief of staff for risk management, and chief regulatory officer.[2] He was CEO of the Abu Dhabi Global Market for six years starting in 2015.[7]

Teng joined Binance in August 2021 as CEO of the company's Singapore business.[2] He became regional head of Asia, Europe, and the Middle East and North Africa, in April 2023,[7] and was later the global head of regional markets.[3][8] He was named CEO of Binance in November 2023, replacing founder Changpeng Zhao who stepped down after pleading guilty to criminal charges related to his management of Binance.[9][10] Previously, Teng was a board member of Abu Dhabi-based Lulu Financial Group in 2021–2022.[2]

References

  1. ^ Ghosh, Suvashree; Irrera, Anna; Bartenstein, Ben (November 21, 2023). "New Binance CEO Teng's First Job Is to Avert Customer Exodus". Bloomberg News.
  2. ^ a b c d Cabral, Alvin R. (November 22, 2023). "Richard Teng: the former Abu Dhabi financial regulator named as new Binance chief". The National.
  3. ^ a b "Binance gets new CEO amid US money laundering probe – Who is Richard Teng?". Mint. 28 November 2023.
  4. ^ Lacqua, Francine; Nicolle, Emily (November 29, 2023). "Binance's Top Executive Team to 'Remain Intact,' New CEO Says". Bloomberg News.
  5. ^ Wilson, Tom; Howcroft, Elizabeth (November 24, 2023). "Binance CEO Teng braced for uphill battle in post-Zhao era". Reuters.
  6. ^ Dalal, Khyathi (November 27, 2023). "Binance Enters New Era As CEO Richard Teng Prioritizes Transparency, Compliance". Nasdaq – via Benzinga.
  7. ^ a b Oi, Mariko (21 November 2023). "Richard Teng: Who is the new boss of Binance?". BBC News.
  8. ^ Jeans, David (November 21, 2023). "Richard Teng A Top Contender For New Binance CEO As CZ Steps Down". Forbes.
  9. ^ Roberts, Jeff John (November 27, 2023). "New Binance CEO Richard Teng says firm has 'robust timeline' for board, financial disclosures". Fortune.
  10. ^ Sigalos, MacKenzie; Browne, Ryan (November 21, 2023). "Changpeng Zhao speaks out after pleading guilty to criminal charges, names Richard Teng as new Binance CEO". CNBC.