Stewart Allen's Lessons from Military Service to Financial Services

At Melbourne Capital Group, we are proud to have Stewart Allen as part of our team. With over three decades of experience in the financial services industry, Stewart has built a career that spans across the Middle East, Europe, and Southeast Asia. His journey from military service to senior roles in leading global financial institutions has equipped him with unique insights and expertise in international financial planning. Now based in Thailand, Stewart is dedicated to helping expatriates in the region achieve their financial goals. In this article, he reflects on his fascinating journey and the lessons learned along the way.

Where do I begin?

There won’t be many pictures here, as my journey began when photos were still developed in a photo shop on the high street. Plastic disposable cameras were the camera of choice, and smartphones weren’t even dreamt of. Urgent messages were sent via fax, and the common way to communicate was by post or from a red phone box at the end of the street! The 1980s, 1990s, and early 2000s…

Shall we begin?

I left Her Majesty’s Royal Air Force in late 1990, after serving nearly 9 years at 42 Maritime Squadron on Nimrod Aircraft and at HQ Strike Command in Buckinghamshire, UK, seconded into the Intelligence business for NATO.

I then joined the Royal Air Force of Oman at Muscat Seeb airbase, where I remained for the next 5 years. During this time, the 1st Gulf War raged in Kuwait and the Northern Gulf region, in which I saw active service. My main distraction during this period was rugby union, which, alongside my military career, was a major influence on my behaviour and character, both grounded in strong team ethics and endurance.

I was very fortunate to travel extensively for both my passions, rugby and military aviation, and I experienced the best and worst of human behaviour, both military and civilian. These experiences had a profound influence on my attitudes later in life.

Upon returning to the U.K. 5 years later, I accidentally fell into Financial Services with Prudential Assurance U.K. I rose to the level of Managing Consultant and completed my full UK qualifications to Advanced Financial Planning Certificates. G10 Taxation & Trusts, H15 Supervision & Sales Management, H25 Holistic Financial Planning, G60 Pensions, G70 Investment & Portfolio Management—an intensive learning process over 2-3 years completed by 1997/8. It left little room for life outside work, but it proved to be a worthy sacrifice.

My career took a twist after being headhunted by HSBC Middle East, specifically Qatar and the UAE, to set up Financial Planning Services in these then frontier countries. After a short stint in Hong Kong, the project concluded, and I returned to the UK, only to be headhunted again—this time by Barclays Bank in London, working from Luxembourg and covering the Netherlands, Belgium, and Germany. That project also came to a natural end, and I was recruited to join NatWest Coutts, based at The Strand, London. At the time, I wasn’t sure exactly why. It soon became evident!

Eventually, I was shipped out to Qatar again, this time as Country Head and Senior Executive Function, with a full branch license for Coutts and the Royal Bank of Scotland in 2005/6—then the largest bank in the world by balance sheet. My family joined me on this leg of my journey, as it was an accompanied role.

I maintained my passion for rugby, playing at an international level for Qatar and the Gulf, and I learned Arabic to better understand local clients and customs. My connection and love affair with the MENA/Gulf region continued for another 7-10 years.

The financial crisis of 2007 had come and gone, and I was eventually moved to Singapore with an External Asset Manager and Standard Chartered Bank. I became linked with Vietnam and the Southeast Asia region, though my main client base remained in the Middle East.

Then, Covid struck, and I found myself stranded in Thailand, where I have remained since and now call home. It has been an amazing journey, although in recent times it has been tinged with personal and family challenges, all part of life’s rich tapestry. This period strained some close friendships and family ties, but I have come through it feeling stronger and now ready to repair and restore those lifelong relationships.

Melbourne Capital Group, based in Malaysia, came along and offered me an unexpected opportunity as I enter my 62nd year. It has restored my faith in financial services, being part of a genuinely groundbreaking and entrepreneurial company. It is both rewarding and exciting to be based in Southeast Asia, where experience and a few grey hairs are seen as a positive influence and age is just a number.

I hope to bring everything I’ve learned to my role and to my clients, well into the future. I feel blessed to be on this new career journey. Please connect with me on my LinkedIn or email me at stewartallen@melbournecapitalgroup.com