Farewell to a stalwart — Agnes Cai
After more than a decade at the helm of Foord Singapore’s operations, Chief Executive Agnes Cai departs this month to pursue a new chapter outside of asset management. Her decision leaves us both proud of her immense contribution and wistful at losing a colleague whose calm resolve and encyclopaedic institutional memory have become part of Foord’s DNA. PAUL CLUER bids her adieu.
Agnes joined Foord in late 2014 as compliance officer, answering a regulatory prerequisite attached to our newly granted retail licence on the island. Recruited by Prakash Desai, she brought with her a chartered accounting pedigree honed at Deloitte in Singapore. From the start, her strikingly asymmetric hairstyle hinted at a fearless personality beneath the meticulous exterior.
Within months she was tackling far more than compliance: she streamlined fund accounting, overhauled client reporting and knit together our Singapore, Guernsey and Luxembourg operations into a single, well-oiled machine.
Her remit kept expanding. When Prakash retired in 2018, Agnes stepped confidently into the CEO role. She assumed responsibility for every operational, governance and regulatory function of the Foord global funds. In practice, that meant long hours, countless regulatory filings, board packs across three jurisdictions, and the occasional 2am emergency call — invariably handled with the same composure and precision for which she is known.
As a manager, Agnes has been a stickler for precision and rules. But I also know her to be greatly caring for the wellbeing of staff and the greater Foord family of investors, and always ready to help everyone. It is in this latter capacity that we’ll miss her most of all.
Her impact is hard to overstate. She carries with her a trove of organisational memory and knowledge that we must now spread around. Agnes’s departure will truly put to the test the theory that no one is irreplaceable and put a spotlight on succession.
In this regard, we have agreed with the Monetary Authority of Singapore that I will be appointed as interim CEO, given my long tenure on the Foord Singapore board since its founding in 2012. We have also recently bolstered the operations team with the appointment of Wei Lu Tan — recruited from star Singapore state fund manager GIC in January — as Chief Operating Officer, and added additional capacity with junior operations staff. They are already making a major contribution.
As she embarks on her next adventure, we thank Agnes for her professionalism, integrity and humanity. She departs Foord with our deepest gratitude and best wishes, always. Her imprint on the organisation is indelible, and her example will continue to guide us for years to come.