STEP's Singapore branch has some interesting internal rumblings. [STEP is the Society of Trust and Estate Practitioners, of which most of the Singaporean branch members are engaged in the trust business]
Their recent AGM became a Mexican standoff and a comedy of errors. The ol' wise one of Singaporean tax, Gurbachan Singh was nominated to be Chapter President as well as incumbent President Angelo Venardos (he of OIL /Heritage Fiduciary fame). But Gurbachan's nomination came late and he subsequently withdrew his consent to nomination.
Alexander van der Zwaard (ex-Meespierson/Fortis-Intertrust) current Chapter VP was also late nominated for re-election and also had to withdraw his consent to nomination.
What ensued was a humbling and humiliating hour of exchanges, posturing, snide remarks, calls for resignations and rumbling by angry voters. I wonder if David Harvey [STEP CEO] was around to witness this as he was in town.
Probably amused the hell out of Brian Balleine (he may be the new kid in town from Rothchild Trust but is hardly wet behind the ears and a STEP Worldwide Expert Panel member) who was also on the ballot for a committee role.
All this for a non-paying job.
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