Management Team

John Engle, CFA
Founder and CEO
John has been involved in Asian equity markets since 1987, most recently as Group Head of Research for Asia (including Japan) and Latin America for Indosuez WI Carr. He has either established or revived fledgling franchises in three countries that evolved into successful, highly regarded broking operations over the last 15 years. Taiwan has been the main focus, as he served seven years as analyst, head of research and country head between 1987 and 2001. He worked for ABN AMRO Securities (formerly Hoare Govett Asia Securities), for nine years in Taiwan, Singapore, and Malaysia as banks/financial analyst and head of research.


Prior to entering the financial services industry, he served four years as an officer in the US Army, primarily with the 11th Cavalry Regiment, and has received specialized training in electronic warfare, airborne and French commando school. He graduated with a BA cum laude and Phi Beta Kappa in Classics from the University of Vermont, with the Licence degree in History at the Universite de Provence (France), and has completed the Advanced Management Program at Harvard Business School. He is a chartered financial analyst, his role with the company is CEO and chief investment officer, and has sector coverage of non-tech stocks.

Seow Pheng Ch'ng

Chief Operating Officer and Chief Financial Officer
Seow Pheng has in the financial services industry in Asia since 1996. She commenced her career in the audit division of Arthur Andersen, where she managed the completion of major audits in both Singapore and Malaysia offices. Seow Pheng brings with her extensive experience in accounting, treasury and corporate reporting in her 6 years with Arthur Andersen. She joined Blackhorse as the Head of Finance and Operation in August 2002. Her main responsibilities include the management of accounting and finance of the company as well as regulatory reporting. She received a Bachelor of Accountancy degree from Northern University of Malaysia. Seow Pheng is a qualified Chartered Accountant with the Institute of Accountants of Malaysia.

Richard Duncan
Richard was previously Global Head of Investment Strategy at ABN AMRO Asset Management, is a recognized authority on risks for the US Dollar. Richard has worked in the investment industry for more than 20 years for a number of leading institutions, including the World Bank, as well as investment firms in Asia -- James Capel, Salomon Brothers, and Indosuez WI Carr. He is also the author of the bestselling book The Dollar Crisis: Causes, Consequences, Cures (John Wiley & Sons, 2003, updated 2005), which has been translated into five languages.

In 1993, Richard was one of the first to warn of the impending collapse of the Thai economy and the Thai stock market in a series of published reports and presentations to institutional investors. At the height of the Asia Crisis, he worked as a consultant for the International Monetary Fund in Thailand. Subsequently, he spent two years at the World Bank in Washington, D. C. as a Financial Sector Specialist focusing on issues related to the economic crisis in Asia. Recruited out of the World Bank in 2000 to head Regional Banks research for Indosuez WI Carr, Richard became recognized for his coverage of regional financial institutions until joining ABN Asset Management in 2002.

Anthony T. W. Chow

Head Dealer
Tony joined Blackhorse in 2005 as Dealer, responsible for execution of all trades for client accounts. Tony brings with him more 15 years of experience in financial services, most recently as manager of dealing at Schroders Asset Management in Singapore, where he focused on South East Asia and India equity trading. Previously, Tony worked for 4 1/2 years as a sales trader in Jardine Fleming and JPMorgan as a Singapore/Malaysian equity specialist, initially in Malaysia and later Singapore. Before entering equity trading, he was an interbank broker at Tullett Singapore, where he gained valuable experience in interest rate swaps and fx options. Tony received a Bachelor of Science degree in Finance and Accounting from San Francisco State University.