Media Release - Appointment of New Deputy Chairman and Directors to SMRT Corporation 

23 August 2021


1. SMRT is pleased to announce the appointment of Mr Lee Fook Sun as the deputy chairman of SMRT Corporation Ltd. The appointment is concurrent with his existing appointments as deputy chairman of SMRT Trains Ltd and SMRT TEL Pte Ltd. 
2. The chairman of Ensign InfoSecurity Pte. Ltd. and Ensign InfoSecurity (Cybersecurity) Pte. Ltd., Mr Lee has been providing his engineering expertise including cybersecurity knowledge to enhance SMRT’s train reliability performance and cyber risks governance and resilience. He also sits on the board of Great Eastern Holdings Limited. Details on Mr Lee’s credentials are available at 
3. We welcome Ms Judy Lee and Mr William Tan onboard as new directors of SMRT Corporation Ltd. Their appointments take effect from 1 September 2021. 
4. Ms Lee is the co-founder and managing director of Dragonfly LLC, and Chief Executive Officer of Dragonfly Capital as well as an independent non-executive director of DBS Group Holdings Ltd and DBS Bank Ltd. Her extensive expertise and experience in the management of financial, investment and enterprise risks will be invaluable to the company and its businesses. Ms Lee’s profile is available in the Annex. 

5. Mr Tan, currently a director of SMRT Trains Ltd, will sit on the board of SMRT Corporation Ltd. As an independent nonexecutive director of SembCorp Marine Ltd and former president & Chief Executive Officer of SIA Engineering Company, Mr Tan brings his wealth of experience in senior leadership roles in the commercial sector and his technical knowhow in aircraft maintenance and safety to SMRT. Details on Mr Tan’s credentials are available at 



Ms Judy Lee is a pioneer in risk management with over 30 years of experience as a banker, capital markets expert, and partner in management consulting firms.

Ms Lee co-founded New York-based firm, Dragonfly LLC in 2000, providing strategy, risk management and investment advice to Boards and CEOs worldwide. With Dragonfly, Ms Lee built upon her pioneering work at Bankers Trust to apply risk-management knowhow beyond financial institutions into diverse industries.

Ms Lee is concurrently CEO of Dragonfly Capital, developing renewable energy power plants in South-east Asia. Prior to this, she was Board Director of Solar Frontier, an integrated solar energy company and subsidiary of Japan listed Showa Shell Sekiyu KK.

Ms Lee serves on the Board of Directors of DBS Group Holdings Ltd and DBS Bank Ltd., where she is a member of the Audit Committee, Board Risk Management Committee, and Compensation and Management Development Committee.

Ms Lee serves as Board Director and Investment Committee Chair of Commercial Bank of Ceylon, a top listed bank in Sri Lanka. She is a Board Director of Temasek Life Sciences Accelerator. Ms Lee also serves on the Executive Board of NYU Stern School.

Before Dragonfly, Ms Lee was a partner at The Capital Markets Company (Capco), a global financial services solutions firm. She was responsible for building the risk management, shareholder value and strategy business worldwide.

Prior to Capco, Ms Lee was a partner at Capital Market Risk Advisors (CMRA), a capital markets strategy and risk management consulting firm in New York. She led projects in pricing model validation, capital markets product evaluation and expert pricing for complex derivatives portfolios.

At Bankers Trust New York, she was a principal and member of the pioneering team that developed and implemented RAROC, the first bank-wide risk capital methodology and now an industry standard. She was responsible for risk evaluation of the bank’s portfolio, Page 4 of 4 supporting CEO decision-making across all trading centers including New York, London, Tokyo, Singapore and Latin America. Ms Lee was a key member leading the bank’s regulator engagement and helped shape global regulatory risk and capital guidelines.

Ms Lee co-authored risk books “What Every CEO Must Know About Risk” and “RAROC and Risk Management”. She is an experienced Adjunct Professor having taught for over 10 years at Singapore Management University, Columbia University and Peking University. She was appointed a Senior Fellow of the Wharton School.

She holds a MBA in Finance and Strategy from The Wharton School, a BSc in Finance and International Business from NYU Stern, and has completed the Advanced Management Program and Women on Boards Program at Harvard.