David Lee

Professor David Lee

Professor, Finance Programme

School of Business

Tel: +65 6248 0356

Email: ZGF2aWRsZWVrY0BzdXNzLmVkdS5zZw==

Educational Qualifications

  • 1994 - 2015

    Chartered Statistician, Royal Statistical Association

  • 1990

    Ph.D, The London School of Economics and Political Science, University of London (LSE)

  • 1986

    MSc (Mathematical Economics and Econometrics), LSE

  • 1985

    BSc (Econs) (First Class Honours), Major - Mathematical Economics and Econometrics, LSE

Academic and Professional Experience

  • 2016 - Present

    Advisor, Libra Services, Inc. (www.libra.tech, Blockchain Company)

  • 2013 - Present

    Founder and Advisor, Ferrell Asset Management Group, Dlee Capital Management Pte Ltd (www.ferrell.com.sg, Fund Management and Real Estate Developer)

  • 2013 - Present

    Independent Non-Executive Director, See Hup Seng Limited (www.seehupseng.com.sg, Corrosion Prevention and Refined Petroleum Distribution, Chairman of Remuneration and Nomination Committees, Member, Audit Committee)

  • 2012 - Present

    Independent Non-Executive Director, HLH Group Limited (www.hlh.com.sg Commodity, Chairman of Remuneration Committee, Member, Audit Committee and Nomination Committee)

  • Jul 2013 - Jun 2016

    Professor of Quantitative Finance (Practice), Singapore Management University Director, Global Master of Finance Dual Degree (Washington University at St Louis and Singapore Management University)

  • Sep 2015 - Dec 2015

    Visiting Fulbright Fellow, ShorensteinAsia-Pacific Research Center, Stanford University

  • Jan 2014 - Dec 2015

    Academic and Executive Director, Sim Kee Boon Institute for Financial Economics

  • Oct 2012 - July 2013

    Visiting Professor of Quantitative Finance, Lee Kong Chian School of Business, and Special Advisor to the Provost and Deputy President (Academic Affairs), Singapore Management University

  • 1999 - 2012

    Founder and Managing Director, Ferrell Group of Companies

  • 2006 - 2007

    Managing Director and Chief Executive Officer, Overseas Union Enterprise Limited (www.oue.com.sg Mandarin Hotels, Retail Malls, Commercial, Property Developer, Market Capitalisation: USD1bn)

  • 2006

    Group Managing Director, Auric Pacific Group Limited (www.auric.com.sg Owner of Sunshine Bread, SCS Butter, Food Junction, Delifrance and Distributor for over 2000 food and wine brands, Market Capitalisation: USD100Mn)

  • 1998 - 1999

    Managing Director, Fraser Asset Management Pte Ltd

  • 1994 - 1998

    Director of Institutional Sales, Fraser Securities Pte Ltd

  • 1989 - 1993

    Lecturer, National University of Singapore (NUS); and Fellow and Founding Faculty, Centre For Advanced Studies (Now Known as the Lee Kuan Yew School of Public Policy)

  • 1986 - 1987

    Senior Tutor, NUS

  • 1979 - 1982

    The Singapore Armed Forces, National Military Service

Journal:

“The Fintech Promise”,
The European Financial Review, Jun/Jul 2016. http://www.europeanfinancialreview.com/?p=6093

“Emergence of Fintech and the LASIC Principles”,
with Ernie Teo, Journal of Financial Perspective, 2015,Vol 3, 3.

“A Risk and Complexity Rating Framework for Investment Products”,
with Benedict Koh, Francis Koh, Lim Kian Guan and Phoon Kok Fai, Financial Analyst Journal, 2015, Vol 71, 6.

“Moments Analysis in Risk and Performance Measurement,”
with Phoon Kok Fai and Wong Choon Yuan, Journal of Wealth Management, 2006, Vol 9, 54-65.

“An Equitable Structure for Hedge Fund Incentive Fees”,
with Steven Lwi and Phoon Kok Fai, Journal of Investing, 2004, Vol 13, 4, 31-41.

“Semiparametric Exploration of Long memory in Stock prices,”
with Peter M Robinson, Journal of Statistical Planning and Inference, 1996, Vol 50, 155-174.

Thought Leadership Publications:

“Wealth Management At the Bottom of the Pyramid”
with Shi Jie, Lianhe Zaobao, 18 May 2016 https://www.smu.edu.sg/sites/default/files/smu/news_room/LHZB_20160518_1.pdf

“How the Internet is Democratizing Global Finance”,
with Christopher Dula, The Straits Times, 23 Feb, 2016 http://www.straitstimes.com/opinion/how-the-internet-is-democratising-global-finance

“中国的“一带一路”与“一网一融””
with 闫黎 (One Belt One Road and a Single Financial Net), Zaobao, Aug 3, 2015.

“Singapore banks need to quicken response to disruptive innovations”,
The Business Times, 25 June 2015.

“数码普惠金融的社会意义”
with 闫黎 (The Social Aspect of Digital Financial Inclusion), Lianhe Zaobao, 15 May, 2015.

Books:

“Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data”,
Elsevier, (2015). [Classified as the most Outstanding Business Reference Sources by American Library Association.]

“Handbook of Asia Finance: Financial Markets and Sovereign Wealth Funds”,
with Greg Gregoriou, Elsevier, (2014).

“Handbook of Asia Finance: REITs, Trading and Fund Performance”,
with Gregoriou, Elsevier, (2014).

“Household Economics and the Asian Family”,
with Euston T.E. Quah, Times Academic Press (1997).

“Economics: Sense or Nonsense”,
with Euston Quah, (1986), Longman.

Chapters:

“Electronic Contract Signing without Using Trusted Third Party”,
with Zhiguo Wan, Robert H Deng and David Lee, Network and System Security, Volume 9408 of the series Lecture Notes in Computer Science (2015). http://link.springer.com/chapter/10.1007%2F978-3-319-25645-0_27

“Social Business and Inclusive Economy 2065”.
Singapore 2065, SG50 Book. Pg135-140, (2015)

“Introduction to Bitcoin”,
with Lam Pak Nian, Chapter 1, “Handbook of Digital Currency”. (2015)

“Bitcoin Mining Technology”,
with Nirupama Devi Bhaskar, Chapter 3, “Handbook of Digital Currency”. (2015)

“Evaluating the Potential of Alternative Cryptocurrency: An Empirical Analysis”,
Chapter 3, “Handbook of Digital Currency”. (2015)

“A Light Touch of Regulation for Virtual Currencies”,
with Lam Pak Nian, Chapter 16, “Handbook of Digital Currency”. (2015)

“Bitcoin-like Protocols and Innovation”,
with Ignacio Mas, Chapter 21, “Handbook of Digital Currency”. (2015)

“Bitcoin, IPO, ETF and CrowdFunding”,
with Lam Pak Nian and Nirupama Devi Bhaskar, Chapter 26, “Handbook of Digital Currency”. (2015)

“Bitcoin Exchanges”,
with Nirupama Devi Bhaskar, Chapter 27, “Handbook of Digital Currency”. (2015)

“Singapore’s Financial Markets: Challenges, Future and Prospects”,
Chapter 9, “Asia Finance: Volume I”. (2014)

“Market Structure and Growth Potential of Singapore REITs”,
Chapter 3 with Francis Koh, Kok Fai Phoon, Ee Seng Seah, “Asia Finance: Volume II”. (2014)

“Fund Manager Still Your Best Bet”,
in “The Financial Crisis: Impact and Implications for Singapore Business”, Edited by Leong Siew Meng and Ishtiaq P Mahmood, Published by NUS and SPH, (2009), 43-50.

“Moments Analysis in Risk and Performance Monitoring of Funds of Hedge Funds”,
with Phoon Kok Fai and Wong ChoonYuan. in “Funds of Hedge Funds: Performance,Assessment, Diversification, and Statistical Properties” edited by G.N. Gregoriou. Elsevier, (2006), 327-348.

“Investing in Hedge Funds: Risks, Returns, and Performance Measurement”,
with Francis C.C. Koh, Winston T.H. Koh, and Phoon Kok Fai. In “Hedge Funds: Insights in Performance Measurement, Risk Analysis, and Portfolio Allocation” edited by G.N. Gregoriou, G. Hübner, N. Papageorgiou and F. Rouah, Wiley, New Jersey. (2005), 341-364.

“CTA Strategies for Returns-Enhancing Diversification”,
with Francis C.C. Koh and Phoon Kok Fai. In “Commodity Trading Advisors: Risks, Performance Analysis, and Selection” edited by G.N. Gregoriou, V.N. Karavas, F.S. Lhabitant, and F. Rouah. Wiley, New Jersey. (2004), 336-357.

“Equitable Performance Fees for Hedge Funds”,
with Steven Lwi and Phoon Kok Fai in “Hedge Funds: Strategies, Risk Assessment, and Returns” edited by G.N. Gregoriou, V.N. Karavas and F. Rouah, Beard books, Washington D.C. (2003), 345-364

“ExploRing Persistence in Financial Time Series,”
in XploRe Applications Guide e-book (2000), SpringerVerlag, edited by Wolfgang Härdle, Chapter 15.

“Investment Planning”,
with Tsui Kai Chong, Personal Financial Planning (1999), C9-C12, pp. 162-276, Financial Perspectives.

“Auctions for Transferable Objects: Theory and Evidence”
with Winston Koh, in The Vehicle Quota System in Singapore, edited by Anthony T.H. Chin and Alfred Choi, Singapore University Press. (1998), pp. 207-224. (The model presented in this paper won the best forecasting award for COEs, a competition organized by the Singapore Society for Operation Research.)

“The Vehicle Quota System in Singapore: Issues and Developments,”
with Winston Koh in Essays on Law and the Social Sciences, edited by Anthony T.H. Chin and Alfred Choi, Centre for Advanced Studies, National University of Singapore (1997).

“Fraser’s Expectation-Based Probability Indicator for the Singapore Economy”,
22nd Centre for International Research On Economic Tendency Surveys Conference (CIRET) (1995), 50, 1-8, Edited by Annette G. Kohler, Karl Heinrich Oppenlander and Gunter Poser, Munich.

“Bidding for Certificates of Entitlements: Theory and Practical Strategy”,
with Winston Koh, in Operation Research Applications in Singapore, edited by Mark Goh and L. C. Tang, Operation Research Society of Singapore 20th Anniversary Special Publication. (1995).

“Bidding Strategy and the Quota Premium Model,”
with Winston Koh, at the Presentation Ceremony for prizewinning entries at the ICL-COMIT Decision-Modelling Competition, organized by the Operational Research Society of Singapore, 18 September (1992).

“Automatic Bandwidth Selection in Semiparametric Models,”
with Chou Fee Seng, Optimisation Techniques and Applications (1992), World Scientific, 686-691.

“Predicting Downturn: A New Tool”,
with Tsui Kai Chong, Optimisation Techniques and Applications (1992), World Scientific, 1161-1171.

“A Survey of Consumption and Consumption Capital Asset Pricing Models,”
in Survey of Modern Economics, edited by Euston Quah and Anthony Chin, (1990), 167-195.

“Hedonic Price Function: Theory and Practice,”
in Survey of Modern Economics, edited by Euston Quah and Anthony Chin (1990), 429-461.

2013 - Present
Vice President, The Economic Society of Singapore

2001 - Present
Council Member, Kwong Wai Shiu Hospital

Member, Investment Committee

1995 - Present
Council Member, YangZheng (Yeung Ching) Foundation

Member, Investment Committee

2012 - End 2013
Project Consultant, Investment Management Association of Singapore (Augmented Model adopted by Monetary Authority of Singapore for Possible Implementation. Part II: Complexity-Risk Ratings Framework For Investment Products, pg. 21.)

“The Future of Fintech” on Perspective,
Channel NewsAsia one-hour Panel Discussion Programme, Mar, 2016.

“CAIA Virtual Chapter Webinar Featuring Dr David Lee – The latest Trends for Venture Capital and Private Equity in Asia and China”,
1 hour 3 minutes, 15 Jan 2016.

Keynote Speaker, “The Rise of LASIC Finance”,
Innovation for Financial Services Conference, Streamed from Silicon Valley to Singapore, 22:53 minutes 14 Oct 2015. https://www.youtube.com/watch?v=700IRrOjxtA

“The Cryptocurrency Revolution and Its Impact”,
Insights from Thought Leaders. 18.34 minutes, Oct 2014. http://www.smu.edu.sg/podcast/cryptocurrency-revolution-and-its-impact

“A Closer Look at Asian Finance”,
16.54 minutes, 5 Sep 2014. http://scitechconnect.elsevier.com/closer-look-asian-finance/#.VFS-HPmUeSo http://ink.library.smu.edu.sg/podcasts/24/

Chair, Singapore-India Business Dialogue, 2014
(30 minutes television broadcast On Channel NewsAsia) http://www.smu.edu.sg/news/2014/05/29/singapore-india-business-dialogue-2014

Speeches:

Opening Speech at the Singapore Economic Policy Forum 2014 organized by the Economic Society of Singapore.
Orchard Hotel

YouTube and Videos:

https://www.youtube.com/watch?v=700IRrOjxtA

Selected Notable Interviews:

“The FinTech Promise”,
Business Times, 23 March 2016 http://www.smu.edu.sg/sites/default/files/smu/news_room/BT_20160323.pdf?kui=_nEa-yiTMKOYEXsXSpfxA

A Silicon Valley State of Mind: Smart, Open and Disruptive, Business Times, Dec 2015.
http://www.smu.edu.sg/news/2015/12/01/silicon-valley-state-mind-smart-open-and-disruptive

An Interview with David Lee Kuo Chuen by Economics and Society,
“The LASIC Principle: The Rise of Internet Finance”, a publication by the Economic Society of Singapore, World Scientific, Nov 2015 http://www.worldscientific.com/userimages/ContentEditor/1446107578499/economics_and_society.pdf

An interview with David Lee Kuo Chuen by FST Media about how digital currencies will shape the payments space in 2020.
14 July 2015

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