Kai Nargolwala

Non-executive Chairman

Kai Nargolwala is the Chairman of Clifford Capital. He is also a non-executive Director of UK-based Prudential plc, PSA International Pte Ltd, and Credit Suisse Group AG respectively. He is the non-executive Chairman of Prudential Corporation Asia Limited and the Chairman of the Governing Board of the Duke-NUS Medical School. 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 Asian 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. 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

Non-executive Director

Loh Khum Yean is the Permanent Secretary of the Ministry of Trade and Industry (“MTI”) for Singapore. He is responsible for policies and programmes of MTI and its Statutory Boards (including EDB, International Enterprise Singapore and SPRING Singapore) which aim to develop Singapore into a leading global city of enterprise and talent, a vibrant nation of innovation and opportunity. 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 Singapore Ministry of Manpower. During previous stints in MTI, he has held the positions of Director, Research & Planning; Chief Executive, SPRING; and Deputy Secretary (Industry), where he oversaw the economic development portfolio. He holds a Bachelor of Economics from Hitotsubashi University Japan and a Master’s Degree in Public Administration from Harvard University, USA.


Dr. Andy So

Non-executive Director

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

Non-executive Director

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

Non-executive Director

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

Non-executive Director

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) and Fullerton India Credit Company 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

Non-executive Director

Teo Swee Lian is a non-executive and independent Director of AIA Group Ltd, Singtel Group, and Avanda Investment Management Pte Ltd. She is also a member of the Board of Directors of Dubai Financial Services Authority, United Arab Emirates, a member of the Governing Board of the Duke-NUS Medical School in Singapore and a council member of the Asian Bureau of Finance & Economic Research of National University of Singapore Business School.

Swee Lian was Special Advisor in the Managing Director's Office at the MAS until she stepped down in early June 2015. Prior to that, she was the Deputy Managing Director in charge of Financial Supervision at the MAS, where she oversaw macroeconomic surveillance, regulation and supervision of the banking, insurance and capital markets industries in Singapore. During her time with MAS, she also worked in reserves management, development, external relations and strategic planning. Swee Lian was also a member of the Singapore Exchange Diversity Action Committee.

Swee Lian was awarded the Public Administration Medal (Gold) (Bar) at the Singapore National Day Awards 2012. She holds a Bachelor of Science (First Class Honours) in Mathematics from Imperial College, London University and a Master of Science in Applied Statistics from Oxford University.


Sanjiv Misra

Non-executive Director

Sanjiv Misra is Chairman of the Asia Pacific Advisory Board for Apollo Management, the global private equity and alternative asset management firm and President of Phoenix Advisers Pte Ltd, a boutique advisory and principal investing firm. He is an Independent and Non-Executive Director on the Boards of Edelweiss Financial Services Limited, a BSE-listed company; Olam International Limited (SGX listed); OUE Hospitality REIT Management Pte Ltd (“OUE REIT”) and OUE Hospitality Trust Management (“OUE TRUST”). He is a Member of the Board of EDBI Pte Ltd and Singapore Symphonia Company Ltd. He is also a member of the International Advisory Board of the Institute of Societal Leadership at Singapore Management University (“SMU”). Mr Misra served as a member of the Board of Directors of the National University Health System (“NUHS”). He was also a member of the Board of Trustees of SMU.

His career has featured several senior positions including Chief Executive Officer of Citigroup’s Global Corporate and Investment Banking Group in Singapore and Brunei and Citi Country Officer in Singapore, Head of Asia Pacific Investment Banking and Head of the Asia Pacific Corporate Bank, in a career spanning 11 years with Citigroup. His career prior to Citigroup included ten years 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. He is a citizen of Singapore.


Clive Kerner

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 Ltd. and its successor entities, with a focus on project and structured finance and corporate advisory in the power, utilities, infrastructure and resources sectors, primarily in Asia, where he was based in Singapore with other postings in Kuala Lumpur and London. He was latterly Head of Asian Utilities and Infrastructure business in Singapore. Mr Kerner is also a non-executive Director of Singapore LNG Corporation Pte. Ltd., Changi Airports International Pte. Ltd., Pierfront Capital Fund Management Pte. Ltd. and Pierfront Capital Mezzanine Fund Pte. Ltd. respectively. He holds an MBA from the Cass Business School in London and a BA in Economics from the University of Sheffield.