EUGENE Khoo Kong Hooi, the newly appointed CEO of TAHPS Group Bhd, has joined a growing number of bankers who have transitioned to a new job in another industry.

Khoo has more than 20 years of experience in the banking and finance industry, having worked for RHB Investment Bank Bhd, Cagamas Bhd, Citigroup, AmInvestment Bank Bhd and Asian International Merchant Bankers Bhd.

But he is not the first banker to leave the banking industry to take up the top post in a locally listed property company.

There was Kok Tuck Cheong, a 60-year-old ex-banker of AmInvestment Bank, who was appointed a director and managing director of premier lifestyle property developer Eastern & Oriental Bhd last July.

Kok started his career in investment banking with AmInvestment Bank, where he began in line functions and progressed to managerial duties and thereafter served in various leadership positions at the bank. He retired as its CEO and managing director after serving for 34 years, with the last 10 years focused on strategic development and management of various businesses.

Then, there was Edward Chong Sin Kiat, who took up the post of managing director at IJM Land Bhd in April 2015, and Jeffrey Chew Sun Teong, who became the group CEO of Paramount Corp Bhd in July 2014.

The 46-year-old Chong joined IJM Land in 2000 as assistant general manager, corporate affairs. He was promoted to chief financial officer in 2012. Before joining the group, he was attached to the corporate finance department of an investment bank, and prior to that, a public accounting firm.

Fifty-year-old Chew joined OCBC Bank (M) Bhd as head of SME business in 2003, and was subsequently promoted to head of business banking. He was appointed a director and CEO in 2008, and held the position for six years.

“At least four of us, ex-career bankers, are running property firms now. One of them (Kok) was my superior. He is from a different generation, one decade before me, and he was my boss when we were in AmInvestment Bank,” Khoo recalls.

During his years in the banking industry, Khoo has covered various areas, including mergers and acquisitions, corporate banking, corporate finance, debt capital markets, equity capital markets and relationship management.

Some of the notable deals that he had advised included Kulim (M) Bhd selling New Britain Palm Oil Ltd to Sime Darby Bhd and global equity firm KKR & Co buying a stake in Weststar Aviation Services Sdn Bhd.

In addition to his banking and finance experience, Khoo has worked with private companies on advisory transactions. He currently sits on the board of Bank of China (M) Bhd and is the president of the Malaysian Mergers & Acquisitions Association.

Khoo says the local banking landscape has changed substantially over the years.

“I left the banking industry last year because I felt that there was no longer excitement for me to do what I did in the last 20 years. I retired from banking to pursue other interests,” he says.

“If you don’t leave your comfort zone, you won’t know what is out there.”

Timing and opportunities also play a part.

“After I left banking, I discovered that there are many attractive opportunities out there [especially] if people know that you are available and have a wealth of experience to offer,” says Khoo.

“And I reckoned that property development is something [that is] not very difficult to understand. All of us, at some point, will buy a property, whether for our own use or investment. It is something that you can see and touch. It is a tangible industry.”

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