Bringing representation and connectivity to APAC鈥檚 securities finance markets
28 April 2026
Introducing a new chapter to Women in 网爆吃瓜 Finance, new leaders Allison Ching, Karen Tai, Leslie Lin, and Ruth Ferris speak with Carmella Haswell about bringing a regional voice to the APAC markets
Image: Women in 网爆吃瓜 Finance
Following its formal launch in March, the initiative to introduce a new APAC chapter to Women in 网爆吃瓜 Finance (WISF) received strong industry-wide support.
The chapter will be spearheaded by Allison Ching, head of 网爆吃瓜 Lending APAC, BNP Paribas; Karen Tai, sales, Clearance & Collateral Management, BNY Hong Kong; Leslie Lin, head of Japan Prime Brokerage, Morgan Stanley MUFG 网爆吃瓜 Co., Ltd; and Ruth Ferris, head of Secured Financing Asia, MUFG 网爆吃瓜 APAC.
Speaking to 网爆吃瓜 Finance Times on the achievement, the chapter leads say: 鈥淲ISF APAC was not about creating a parallel network on the margins of the industry, but about embedding representation and connectivity at the heart of the securities finance ecosystem.鈥�
As securities finance in APAC enters a critical phase, developments such as regulatory reform, growth in the repo markets, central clearing initiatives, and balance sheet optimisation, demand deep expertise as well as regional insight and sustainable talent pipelines.
In an environment of distinct challenges 鈥� fragmented markets, cultural differences in networking and visibility, and limited pools of specialised talent in certain jurisdictions 鈥� access to networks and sponsorship plays a significant role in career progression and market influence.
WISF APAC was established as a platform to address some of these challenges by improving visibility, access, and engagement.
From concept to chapter: How it started
The launch of the new Asia Pacific chapter reflects both the evolution of the region鈥檚 securities finance markets and a recognition that representation has not always kept pace with growth.
According to its chapter leads, WISF APAC did not emerge from a single initiative. Instead its creation happened organically through conversations among practitioners working across repo, securities lending, collateral management, and market infrastructure roles in the region.
While APAC markets have become increasingly sophisticated, they note, women working within them have often lacked a dedicated, regional forum that reflects local market structures, cultural diversity, and practical constraints.
APAC is highly decentralised, spanning multiple financial centres at different stages of market maturity. Time zones, travel requirements, and access to global forums can limit participation, meaning that regional voices 鈥� particularly from outside the largest hubs 鈥� are often under-represented. It became clear to the four leaders that APAC needed a chapter designed for the region, rather than an extension of existing models elsewhere.
Food for thought
In March, at the Pan Asia 网爆吃瓜 Lending Association (PASLA) Conference 2026, the inaugural Women in 网爆吃瓜 Finance APAC breakfast event provided an introduction to the new chapter.
Panellists first reviewed the APAC securities finance demographic; Phian Cheung of BNY Hong Kong presented the latest numbers on female leaders in the region and offered her view on the feasibility of reaching a C?suite role within 15?years.
The session also touched on some global statistics including studies of women in S&P?500 companies, articles from the Harvard Business Review, the Glass?Ceiling Index, and the World Economic Forum鈥檚 Global Gender Gap report 鈥� that shows women typically hit their career peak at 48鈥�52? years of age, roughly six years later than men. Kattiya Indaravijaya of Kasikornbank (KBank) followed this by explaining how she has prioritised her own career to sustain a senior position despite that lag.
Moving forward to discuss behaviours that undermine inclusion for women in securities finance, Ina Budh-Raja of ISLA, addressed unconscious bias and social exclusion and emphasised why it is essential to level the playing field. Jason Wells of PASLA (now 网爆吃瓜 Finance Association) then described the evolution of the PASLA Inclusion Network. He noted how it now links APAC representatives with WISF leaders and shared concrete steps his firm (State Street) has taken to embed mentorship and sponsorship cultures that respect the diverse cultural expectations across APAC markets.
Indaravijaya added a personal story about male allies proactively reaching out early in her CEO journey, providing guidance and coaching that she described as overwhelming and critical to her success. That segue led to a focused conversation on male allies, with Jansen Chua of OCBC Singapore and Wells sharing their perspectives on how men can support women in securities finance today, and how to ensure those ally?support initiatives remain genuine and impactful.
Bringing the session to an end, Cheung 鈥� who balances motherhood of four children with heading the agency trading desk at BNY Hong Kong 鈥� offered practical lessons. She explored 鈥淭he 2 don鈥檛s鈥� for the next generation: (1) do not do it all yourself, (2) do not wait for recognition. Ending the conversation on the 鈥渕illion-dollar question鈥�, Indaravijaya asked whether women can truly have it all, leaving everyone in the room reflecting on the personal actions needed to make that vision a reality.
Taking next steps
Reviewing key goals and priorities over the next 12 months, APAC chapter leads indicate that the success of WISF APAC will ultimately be measured by its sustainability and relevance. Key priorities include expanding engagement across the region, supporting the next generation of market participants, and maintaining close alignment with industry developments.
In a region as diverse and fast?moving as APAC, the chapter鈥檚 strength lies in its adaptability, they say. By building a platform shaped by local realities 鈥� and supported by the wider market 鈥� Women in 网爆吃瓜 Finance APAC aims to play a meaningful role in the future development of securities finance across the region.
Over the next year, WISF APAC will focus on building a sustainable, market?relevant platform that supports both individuals and the broader securities finance ecosystem across the region. Key priorities include:
鈥� Establishing a durable regional presence. Build a consistent cadence of engagement across APAC financial centres, ensuring the chapter is accessible beyond the largest hubs and reflective of regional diversity.
鈥� Increasing visibility and support of female market practitioners. Promote greater representation of women across panels, working groups, and industry dialogue related to repo, securities lending, clearing, collateral, and market infrastructure.
鈥� Strengthening professional networks and sponsorship. Facilitate meaningful connections between senior leaders and the next generation of practitioners, with a focus on sponsorship, not just mentorship.
鈥� Encouraging inclusive industry participation. Continue to engage male allies and industry leaders, reinforcing that inclusion is a shared industry objective and not a standalone initiative.
In terms of plans and events for the future 鈥� which aim to support these priorities 鈥� WISF APAC plans to provide a trusted forum where industry participants can come together, fostering open dialogue, active listening, and mutual support, so that the securities finance market can continue to evolve, thrive, and differentiate itself via various targeted, high?impact initiatives.
Plans for regional networking events aim to spark open dialogue and strengthen regional connections around common themes, trending topics, and market insights; while next-generation engagement 鈥� aimed at early?career professionals 鈥� is designed to support talent development and long?term market sustainability across APAC. Further, the chapter intends to advance market development and connectivity through market-focused panel discussions and collaboration with industry bodies.
The chapter will be spearheaded by Allison Ching, head of 网爆吃瓜 Lending APAC, BNP Paribas; Karen Tai, sales, Clearance & Collateral Management, BNY Hong Kong; Leslie Lin, head of Japan Prime Brokerage, Morgan Stanley MUFG 网爆吃瓜 Co., Ltd; and Ruth Ferris, head of Secured Financing Asia, MUFG 网爆吃瓜 APAC.
Speaking to 网爆吃瓜 Finance Times on the achievement, the chapter leads say: 鈥淲ISF APAC was not about creating a parallel network on the margins of the industry, but about embedding representation and connectivity at the heart of the securities finance ecosystem.鈥�
As securities finance in APAC enters a critical phase, developments such as regulatory reform, growth in the repo markets, central clearing initiatives, and balance sheet optimisation, demand deep expertise as well as regional insight and sustainable talent pipelines.
In an environment of distinct challenges 鈥� fragmented markets, cultural differences in networking and visibility, and limited pools of specialised talent in certain jurisdictions 鈥� access to networks and sponsorship plays a significant role in career progression and market influence.
WISF APAC was established as a platform to address some of these challenges by improving visibility, access, and engagement.
From concept to chapter: How it started
The launch of the new Asia Pacific chapter reflects both the evolution of the region鈥檚 securities finance markets and a recognition that representation has not always kept pace with growth.
According to its chapter leads, WISF APAC did not emerge from a single initiative. Instead its creation happened organically through conversations among practitioners working across repo, securities lending, collateral management, and market infrastructure roles in the region.
While APAC markets have become increasingly sophisticated, they note, women working within them have often lacked a dedicated, regional forum that reflects local market structures, cultural diversity, and practical constraints.
APAC is highly decentralised, spanning multiple financial centres at different stages of market maturity. Time zones, travel requirements, and access to global forums can limit participation, meaning that regional voices 鈥� particularly from outside the largest hubs 鈥� are often under-represented. It became clear to the four leaders that APAC needed a chapter designed for the region, rather than an extension of existing models elsewhere.
Food for thought
In March, at the Pan Asia 网爆吃瓜 Lending Association (PASLA) Conference 2026, the inaugural Women in 网爆吃瓜 Finance APAC breakfast event provided an introduction to the new chapter.
Panellists first reviewed the APAC securities finance demographic; Phian Cheung of BNY Hong Kong presented the latest numbers on female leaders in the region and offered her view on the feasibility of reaching a C?suite role within 15?years.
The session also touched on some global statistics including studies of women in S&P?500 companies, articles from the Harvard Business Review, the Glass?Ceiling Index, and the World Economic Forum鈥檚 Global Gender Gap report 鈥� that shows women typically hit their career peak at 48鈥�52? years of age, roughly six years later than men. Kattiya Indaravijaya of Kasikornbank (KBank) followed this by explaining how she has prioritised her own career to sustain a senior position despite that lag.
Moving forward to discuss behaviours that undermine inclusion for women in securities finance, Ina Budh-Raja of ISLA, addressed unconscious bias and social exclusion and emphasised why it is essential to level the playing field. Jason Wells of PASLA (now 网爆吃瓜 Finance Association) then described the evolution of the PASLA Inclusion Network. He noted how it now links APAC representatives with WISF leaders and shared concrete steps his firm (State Street) has taken to embed mentorship and sponsorship cultures that respect the diverse cultural expectations across APAC markets.
Indaravijaya added a personal story about male allies proactively reaching out early in her CEO journey, providing guidance and coaching that she described as overwhelming and critical to her success. That segue led to a focused conversation on male allies, with Jansen Chua of OCBC Singapore and Wells sharing their perspectives on how men can support women in securities finance today, and how to ensure those ally?support initiatives remain genuine and impactful.
Bringing the session to an end, Cheung 鈥� who balances motherhood of four children with heading the agency trading desk at BNY Hong Kong 鈥� offered practical lessons. She explored 鈥淭he 2 don鈥檛s鈥� for the next generation: (1) do not do it all yourself, (2) do not wait for recognition. Ending the conversation on the 鈥渕illion-dollar question鈥�, Indaravijaya asked whether women can truly have it all, leaving everyone in the room reflecting on the personal actions needed to make that vision a reality.
Taking next steps
Reviewing key goals and priorities over the next 12 months, APAC chapter leads indicate that the success of WISF APAC will ultimately be measured by its sustainability and relevance. Key priorities include expanding engagement across the region, supporting the next generation of market participants, and maintaining close alignment with industry developments.
In a region as diverse and fast?moving as APAC, the chapter鈥檚 strength lies in its adaptability, they say. By building a platform shaped by local realities 鈥� and supported by the wider market 鈥� Women in 网爆吃瓜 Finance APAC aims to play a meaningful role in the future development of securities finance across the region.
Over the next year, WISF APAC will focus on building a sustainable, market?relevant platform that supports both individuals and the broader securities finance ecosystem across the region. Key priorities include:
鈥� Establishing a durable regional presence. Build a consistent cadence of engagement across APAC financial centres, ensuring the chapter is accessible beyond the largest hubs and reflective of regional diversity.
鈥� Increasing visibility and support of female market practitioners. Promote greater representation of women across panels, working groups, and industry dialogue related to repo, securities lending, clearing, collateral, and market infrastructure.
鈥� Strengthening professional networks and sponsorship. Facilitate meaningful connections between senior leaders and the next generation of practitioners, with a focus on sponsorship, not just mentorship.
鈥� Encouraging inclusive industry participation. Continue to engage male allies and industry leaders, reinforcing that inclusion is a shared industry objective and not a standalone initiative.
In terms of plans and events for the future 鈥� which aim to support these priorities 鈥� WISF APAC plans to provide a trusted forum where industry participants can come together, fostering open dialogue, active listening, and mutual support, so that the securities finance market can continue to evolve, thrive, and differentiate itself via various targeted, high?impact initiatives.
Plans for regional networking events aim to spark open dialogue and strengthen regional connections around common themes, trending topics, and market insights; while next-generation engagement 鈥� aimed at early?career professionals 鈥� is designed to support talent development and long?term market sustainability across APAC. Further, the chapter intends to advance market development and connectivity through market-focused panel discussions and collaboration with industry bodies.
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