Singaporeans lead the pack as Western multinationals rush to hire Asian execs

Mandarin and English make a formidable combo.

Singaporean executives are leading the pack as multinational firms rush to appoint Asian execs to their governance boards. A report released by DTCA showed that the trend of appointing Asian executives is steadily gathering pace, as Western firms focus their attention on expanding their business in the region.

Executives from Singapore, Hong Kong and India are leading the pack as preferred candidates with Western companies.

This is because Singapore and Hong Kong senior executives are fluent in both English and Mandarin. Many senior execs are also educated in the UK, giving them an international perspective coupled with an intimate knowledge of the region.

Five Singaporean executives are sitting in the governance boards of firms in the United Kingdom and France.

The number of Asian executives holding non-executive director positions in these companies has risen to 23 this year, from just nine in 2009. 

The trend is being led by UK-based companies, with eight of the top 20 firms in the country having Asian non-executive directors. The number of Asians holding director positions with UK companies has also more than doubled during the period – rising to 15, from 7 in 2009.

This is followed closely by French firms - with six of the top 20 companies having an Asian executive on their board. The number of Asian executives serving as directors with French companies has risen to six in 2014, from just one in 2009.

According to DTCA Managing Partner and Co-Founder Fabrice Desmarescaux, “With an increasing number of Western companies looking to expand in Asia, there is a growing belief that you need to have local talent at the very senior level to be able to fully exploit the region’s growth potential.”