Grab Hires Chief Financial Officer

Grab has appointed a chief financial officer with extensive experience in scaling rapidly growing technology companies.

Based in Singapore, Peter Oey reports to group CEO and co-founder Anthony Tan. He will be responsible forfinance operations, treasury, tax, procurement, and real estate and facilities, the firm said in an announcement on Wednesday.

He will also work closely with Grab president Ming Maa, who will continue to lead strategic business planning for the company, the statement said.

Oey brings extensive experience scaling rapidly growing technology companies. He spent two decades of corporate finance and strategic planning, and was previously CFO for legal tech firm Legalzoom and personal information broker Mylife. He also spent 12 years in various roles at gaming firm Activision Blizzard, including vice president, corporate controller.

The past year has seen Grab growing its food delivery, payments and financial services businesses significantly. According to the firm, Grab Food saw its gross merchandise value grow by over 400 percent across Southeast Asia, led by Indonesia, Thailand and the Philippines, while Grab Pay increased total payments volume by 170 percent.

Apart from launching e-money, lending and insurance distribution on its platform, the firm has partnered Singtel in its application for a digital bank license in Singapore. It also moved into wealth management with the acquisition of Singapore-based robo-advisor Bento.

In the coming year, Grab said it expects to expand its financial services offerings, grow its daily essentials delivery and concierge services and develop more business-to-business service offerings.