The beginning of Richard Teng's career until he became CEO of Binance
Richard Teng began his career as an auditor at PricewaterhouseCoopers and then joined the Monetary Authority of Singapore (MAS), the country's central bank and financial regulator, in 1997.
It is noted that he spent 13 years at MAS, where he held various senior positions, such as corporate finance director, market behavior director and head of regulator.
In 2010, Teng left MAS and joined the Singapore Exchange (SGX), the country's stock exchange and derivatives market, as chief regulator.
He is responsible for overseeing the regulation and compliance of SGX listed companies, members and clearing houses. Teng also played a key role in developing and implementing SGX's policies and regulatory framework, such as listing regulations, securities trading regulations and risk management systems.
In 2015, Teng moved to Abu Dhabi, the capital of the United Arab Emirates, to become CEO of the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM), an international financial center and free zone.
He led the creation and operation of the FSRA, which regulates and oversees financial activities and entities in ADGM, such as banks, asset managers, exchanges, fintech companies and crypto businesses.
Richard Teng is also tasked with helping shape ADGM's legal and regulatory framework, which is based on common law and international best practice. Under his leadership, ADGM became one of the most progressive financial regulators
In August 2021, Teng joined Binance as CEO of Binance Singapore, the leading fiat-to-crypto platform for trading cryptocurrencies in Singapore dollars (SGD).
He is tasked with growing the business and ensuring its compliance with local laws and regulations.
Then in November 2021, Teng was named head of regional markets at Binance, a new role overseeing Binance's business operations and strategy in Asia, Europe, the Middle East and North Africa.
On November 22, 2023, Teng was officially announced as the new CEO of Binance, replacing Zhao, who will remain the company's chairman and chief visionary officer.
That is Richard Teng's profile and biodata complete with his career journey until he became CEO of Binance replacing Changpeng Zhao.
