Singlife Poaches From DBS
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A veteran in the financial services industry and longtime DBS manager joins Singapore’s Aviva Singlife as its new group CEO.
Pearlyn Phau Yee Meng will join Singapore’s Aviva Singlife as Executive Director and group CEO, the firm announced in a media release on Monday.
Subject to regulatory approval, Phau Yee Meng’s appointment as group CEO will be effective on 18 August 2021. Also subject to regulatory approval, she will take on additional roles as executive director and CEO of both of the Group’s two Singapore licensed insurers, Singlife and Aviva Singapore. The scheme of transfer that will combine the two entities has been approved by the Monetary Authority of Singapore (MAS). It is now subject to the approval of Singapore courts and is expected to complete later this year.
Following Phau Yee Meng’s appointment in August, Nishit Majmudar, currently CEO of Aviva Singapore, will step down from his executive and board roles and become a senior advisor to the board. Walter de Oude, who has acted as group CEO prior to Phau Yee Meng’s appointment, will continue on the board as deputy chairman, Aviva Singlife Holdings. Both will therefore be well placed in their respective roles to assist Phau Yee Meng and ensure a smooth transition into her new role, the release states.
A veteran in the financial services industry, Phau Yee Meng has held various senior leadership roles within DBS Group, both in Singapore and Hong Kong. She is currently the group head of consumer products, marketing and ecosystem partnerships with oversight across the product lines in the region and a mandate to scale growth exponentially via strategic partnerships. Prior to this, Phau Yee Meng was the deputy group head of consumer banking & wealth management and has also spent four years in Hong Kong as the head of consumer banking & wealth management, DBS Bank Hong Kong.
Phau Yee Meng, a Singaporean, has an exceptional track record of executing key strategies and business transformation initiatives across regional retail and wealth franchises, including being a key driver of emerging digital banking strategies. She was also instrumental in the negotiation, construction, management and delivery of DBS’ principal bancassurance partnerships and has built a deep network within the wider insurance community in Singapore and the region.
Questions & Answers
Q.When will Pearlyn Phau Yee Meng's appointment as group CEO be effective?
When will Pearlyn Phau Yee Meng's appointment as group CEO be effective?
Subject to regulatory approval, Pearlyn Phau Yee Meng's appointment as group CEO will be effective on 18 August 2021. She will also take on additional roles as executive director and CEO of the two Singapore licensed insurers.
Q.What happens to Nishit Majmudar after Pearlyn Phau Yee Meng's appointment?
What happens to Nishit Majmudar after Pearlyn Phau Yee Meng's appointment?
Nishit Majmudar, the current CEO of Aviva Singapore, will step down from his executive and board roles following Phau Yee Meng’s appointment. He will then become a senior advisor to the board.
Q.What was Pearlyn Phau Yee Meng's previous role at DBS Group?
What was Pearlyn Phau Yee Meng's previous role at DBS Group?
Pearlyn Phau Yee Meng was the group head of consumer products, marketing and ecosystem partnerships at DBS. She was responsible for overseeing product lines and scaling growth through strategic partnerships in the region.
Q.What is the current status of the scheme to combine Singlife and Aviva Singapore?
What is the current status of the scheme to combine Singlife and Aviva Singapore?
The scheme of transfer combining Singlife and Aviva Singapore has been approved by the Monetary Authority of Singapore. It now awaits approval from the Singapore courts and is expected to complete later this year.