StanChart's Maisie Chong on never saying no to seizing opportunities, paying it forward

Chong shares the joy of finding greater satisfaction and fulfilment through the course of work.

Maisie Chong’s approach to life is moulded by two fundamental principles: never say no to opportunities and always embrace the chance to learn and grow.

“My personal life modus operandi is “never, ever say no, until you’ve tried something once.” Chong told Asian Banking & Finance in an interview. “Now that I’ve reached a different stage in my career, the second thing that I’m really looking forward to is learning from my younger colleagues. I see the new generation of bankers coming in; they bring a different perspective, [and] they have a different kind of motivation as well.”

Chong — who is the head of Transaction Banking, Singapore; and head of Trade and Working Capital, ASEAN & South Asia for Standard Chartered — believes in the power of learning and opportunities. This has led her to experience a wide range of roles within the banking industry, from sales to product management and even structured finance.

“I didn’t start out immediately in this field,” Chong said as she looked back at her career that began in the US doing project and change management. Then, an opportunity arose in the form of a chat with a friend who suggested that she explore a different role within the industry.

“At that time, as a young banker, I thought I wanted to be on the trading desk. But my friend shared with me, ‘Transaction Banking is like the plumbing and the hardware to the bank. It’s a very stable business that keeps the bank’s lights on.’ I think that’s when I decided to take the plunge,” she said.

Another aspect Chong highlighted was her commitment to adopting the right mindset and paying things forward. She applies this in both her personal and professional life: whether it’s in ensuring that her two children learn about their cultures as they grow up in Singapore — both were adopted from Malaysia and Indonesia — or supporting women in the banking industry.

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Mindset Shift
Chong recalled a moment early in her career that gave a definitive view of what it is like to be a woman in the finance industry.

“When I first joined Standard Chartered, in my very first week our then global head of transaction banking who was a female leader, told me, ‘There are so few of us out here, we really need to band together to help each other succeed’,” Chong told Asian Banking & Finance.

It was a moment that stayed with her. Today, about 32% or 1 in 3 of Standard Chartered’s senior leadership roles in Singapore is taken by women.

Both Standard Chartered and Chong believe that more can be done: the bank is targeting to increase the share to 35% by 2025.

Chong especially highlighted the need to have a mindset shift that is both personal and professional.

Closing the gender gap, for example, and ensuring a balance of views through the representation of women in management roles can bring about varied perspectives, according to Chong.

“Professionally, there has to be a conscious effort as well. Because when we make a conscious effort to hire female leaders into the bank, it does encourage and shows commitment from the corporation that they're supporting women,” she noted.

For its part, Standard Chartered has taken steps to communicate the importance of building a fair and diverse workplace, such as a fair pay report that sets out fair principles for performance and reward decisions, be it male or female.

Last August, the bank announced enhanced parental benefits: 20 weeks of paid parental leave for all new parents, recognising the importance of the role both new fathers and foster parents play.

In October 2023, Standard Chartered further rolled out global medical coverage benefits to include the treatment of menopause-related symptoms, to all employees and their partners. “A lot of my female colleagues were actually very happy about this. They felt the bank was resonating with life changes they were going through,” Chong said.

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Seeking meaning
Chong also shared an important lesson she learned from the younger generation of bankers: finding greater satisfaction and fulfilment through the course of work.

“I’ve learned a lot from these younger colleagues,” she said. They want to do good, feel satisfied and fulfilled, even in the workplace. When I was growing up, we were told, let's just have a job so we can pay our bills. Today, it’s about building a career that is meaningful and impacts the world.”

Chong further shared that collaboration now comes in different forms, one that she’s very much open to. “I learn from younger colleagues, such as interns. They have a different way of looking at things – they are happy to voice their opinions, share their thoughts and challenge you. I think that's very exciting,” she said.

Recognising the privilege one has in life, such as living in a first-world country like Singapore, is important to Chong, who does not take it for granted. She sees the leg up she’s had in life as an opportunity to reach out to others and extend these privileges by paying it forward.
Chong noted this as a mother to two children with varied cultural backgrounds. “I’ve always tried to ingrain the mindset in them that when you grow up, to not just be content with what you have, but to remember to pay it forward, and give back.”

It’s the same for Chong, as a female leader in Standard Chartered: she actively mentors as a personal means to pay it forward, be it with female leaders within or outside of banking.

“A manager once told me, the air gets very thin at the top. But if you make that ascent up, the view is kind of nice because you get to see what you've actually encountered and overcome. In general, be it in banking or any industry, it's always a slightly difficult climb for women. There are very few of us at the top, so we have to try and help each other succeed. And I’m glad to say I have good company here in Standard Chartered,” Chong said.