Kai Nargolwala is the non-executive Chairman of Clifford Capital. He is also a non-executive Director of UK-based Prudential plc, Prudential Corporation Asia Limited, PSA International Pte Ltd, and Credit Suisse Group AG respectively. Mr Nargolwala’s career spanned several decades in the financial services industry in the UK, USA and Asia. At various times over the last twenty years, he has helmed the Asia businesses of Bank of America, Standard Chartered and Credit Suisse. Mr Nargolwala retired from executive roles at the end of 2011. He previously served on the Boards of Singapore Telecommunications Ltd, Credit Suisse’s Executive Board, Tate and Lyle and Visa International’s Asia Pacific Advisory Board and was the Chairman of the Governing Board of The Duke-NUS Medical School. Mr Nargolwala is a Fellow of the Institute of Chartered Accountants in England and Wales, earned his Honours degree in Economics from the University of Delhi and is a Singaporean citizen.
Loh Khum Yean
Loh Khum Yean is the Permanent Secretary of the Public Service Division in the Prime Minister’s Office, which stewards efforts to establish an excellent and effective Singapore Public Service; by developing strong leadership and engaged officers, building future-ready organisations, and promoting good governance. Mr Loh has had an extensive career within the Singapore Public Service with various postings across several Ministries. Prior to his current appointment, he was the Permanent Secretary of the Ministry of Trade & Industry. He has also held previous appointments in the Ministry of Manpower, SPRING Singapore and Ministry of Finance.
Dr. Andy So
Dr. Andy So is the Managing Director and Head of Treasury & Liquidity Management of DBS Bank Ltd (“DBS”), responsible for the management of liquid asset portfolios, funding and liquidity across locations of DBS Group. Prior to this appointment in October 2009, Andy was the Head of Risk Management Group for North Asia, overseeing the management of market and operational risks for DBS’ business operations in Mainland China, Hong Kong, Taiwan, Japan and South Korea. He also served as Alternate Chief Executive of DBS Bank (Hong Kong) Limited and as an non-executive Director of DBS Bank (China) Limited and DBS (China) Investment Co, Ltd respectively. He has extensive experience in treasury and markets, risk management and product control, in the Asia region. Prior to joining DBS, he had held various senior regional positions with major international banks, including Citibank, Deutsche Bank and UBS. Andy received his PhD and MSc in Operations Research from Cornell University in the USA. He also holds a Master’s degree and a Bachelor degree in Mathematics from the Chinese University of Hong Kong.
Patrick Lee is the Chief Executive Officer, Singapore, of Standard Chartered Bank (“SCB”). Before joining SCB, Patrick was Managing Director, Head of Southeast Asia Investment Banking at Nomura. Prior to that, he was Head of Singapore/Malaysia Investment Banking at UBS and Executive Director, Investment Banking at Morgan Stanley. He has more than 20 years of experience in the banking industry, including corporate and investment banking, product and sector coverage, and has worked in Singapore, Hong Kong and London. Patrick is also a Co-Founder and Board Director of Leap Philanthropy Ltd, a Singapore based charity active in Cambodia and Myanmar. Patrick graduated with BA / MA (First Class Honors) in English from Trinity College, Cambridge.
Rajeev Kannan is the Director and General Manager, Head of Investment Banking Asia at Sumitomo Mitsui Banking Corporation (“SMBC”), based in Singapore since April 2016. He covers various investment banking products including Project & Infrastructure Finance, M&A and Sponsor Finance, Asset Finance, Derivatives, Securitization and distribution activities. Prior to moving back to Singapore, he was Director/General Manager of Structured Finance based in Tokyo for 4 years with responsibility for structured and project finance in Japan and globally for Japanese clients. Rajeev was the first non-Japanese Director/General Manager to be based in SMBC's Tokyo headquarters. He joined Sumitomo Bank in 1997 in Singapore and has over 26 years of infrastructure project finance experience in the financial services industry globally. Prior to joining SMBC, he started his career and worked at ICICI Bank in Mumbai for around 3 years after graduating from the Birla Institute of Technology & Science (BITS), Pilani in India with a Master's degree in Management and Engineering. He also sits on the Board of Commissioners of PT Indonesia Infrastructure Finance and Investment Committee of Core India Infrastructure Fund, a fund set-up jointly with Kotak Mahindra Bank and Brookfields of Canada.
Shirish Apte is the non-executive Chairman of Pierfront Capital Mezzanine Fund Pte Ltd. He is also a non-executive Director of Bank Handlowy (Poland), Commonwealth Bank of Australia, IHH Healthcare Berhad, AIG Asia Pacific, Parkway Pantai Ltd, Acibadem Hospital Group (Turkey), Fullerton India Credit Company Limited and Fortis Healthcare Limited respectively. Mr. Apte spent over 32 years with Citibank across several countries and geographies. He was Chairman of Citibank Asia Pacific Banking from 2012 to January 2014 before retiring from Citi. Prior to that, he was regional CEO for Citibank businesses in the Central/Eastern Europe, Middle East & Africa, and co-CEO for Citi Asia Pacific. Mr Apte is also a Council Member of the Singapore Institute of Banking & Finance. He has a Bachelor of Commerce degree from Calcutta University, and a Master of Business Administration degree from London Business School, and qualified as a Chartered Accountant from the Institute of Chartered Accountants England and Wales.
Teo Swee Lian
Sanjiv Misra is Chairman of the Asia Pacific Advisory Board for Apollo Management, the global private equity and alternative asset management firm. He is also President of Phoenix Advisers Pte Ltd, a boutique advisory and principal investing firm.
He is an Independent and Non Executive Director on the Board of Olam International Limited (SGX listed), where he is Chairman of the Capital and Investment Committee; He is also a Non Executive Director of EDBI Pte Ltd (Chairman, Audit Committee), Clifford Capital Pte Ltd and Singapore Symphonia Company Pte Ltd.
Mr. Misra served as a member of the Boards of OUE Hospitality REIT Management Pte Ltd (“OUE REIT”) and OUE Hospitality Trust Management (“OUE TRUST”) from June 2013 till September 2019, where he was Lead Independent Director and Chairman of the Audit and Risk Committee (SGX listed); member of the Board of Directors of Edelweiss Financial Services Ltd (BSE listed), from April 2011 till January 2019; and National University Health System (NUHS), from its inception in 2008 till 2016. During this period he was the first Chairman of the Audit and Risk Committee, and a member of the Executive Committee of the Board. He served as a member of the Board of Trustees of Singapore Management University (SMU) from 2004 to 2016, and a member of the International Advisory Board of the Institute of Societal Leadership at SMU from March 2014 to Sep 2018. He was also a member of the Investment Committee of SMU and the SMU Enterprise Board.
Mr Misra spent his career in Investment Banking and general management at Citigroup and Goldman Sachs. He spent eleven years at Citigroup, from 1997 to 2008; most recently as Head of the Asia Pacific Corporate Bank (APCB) from June 2004 till May 2008. Prior to his appointment to this position, Mr. Misra served as the Chief Executive Officer of Citigroup’s Global Corporate and Investment Banking Group (GCIB) in Singapore and Brunei and Citigroup Country Officer for Singapore; Head of Asia Pacific Investment Banking; and Head of Equity Capital Markets for Asia-Pacific. Prior to joining Salomon Brothers in January 1997, Mr. Misra spent over ten years in the Investment Banking Division at Goldman Sachs & Co, in New York, Hong Kong and Singapore.
He holds a Bachelor of Arts degree in economics from St. Stephen’s College, Delhi University, a Post-Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad, and a Master of Management from the J.L. Kellogg Graduate School of Management at Northwestern University, where he was admitted as a member of the Beta Gamma Sigma Honors Society. Mr. Misra is a citizen of Singapore.
Chief Executive Officer
Clive Kerner has been Chief Executive Officer of Clifford Capital since its inception in 2012. He has 30 years of emerging markets finance experience and a proven track record as a CEO of start-up financial institutions.
Before joining Clifford Capital, he was CEO of Linq Asia Capital AG, a finance company focused on high yield and mezzanine credit investing in South East Asia. Prior to this, he worked in a prominent Asian family office in Singapore and Jakarta.
He previously spent 20 years in investment banking with Kleinwort Benson and its successor entities, with a focus on project and structured finance in the power, utilities, infrastructure and resources sectors, primarily in Asia. He was based in Singapore with other postings in Kuala Lumpur and London. He was latterly Head of the Asian Utilities and Infrastructure business in Singapore.
Mr Kerner is also a non-executive Director of Changi Airports International Pte. Ltd., Pierfront Capital Fund Management Pte. Ltd. and Pierfront Capital Mezzanine Fund Pte. Ltd respectively. He was formerly a non-executive Director of Singapore LNG Corporation Pte. Ltd. from 2013 – 2019.
He holds an MBA from the Cass Business School in London and a BA in Economics from the University of Sheffield.