Following the closure of the transaction in November 2020 when the consortium led by Singapore Life (Singlife) announced it would combine Singlife with Aviva Singapore, the board has announced the appointment of Ms Pearlyn Phau as executive director and group CEO.
Subject to regulatory approval, Ms Phau’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 licenced insurers, Singlife and Aviva Singapore.
The scheme of transfer which will combine the two entities has been approved by the MAS, and is now subject to the approval of Singapore courts and is expected to complete later this year.
Following Ms Phau’s appointment in August, Mr Nishit Majmudar, currently CEO of Aviva Singapore, will step down from his executive and board roles and become a senior advisor to the board. Mr Walter de Oude, who has acted as group CEO prior to Ms Phau’s appointment, will continue on the board as deputy chairman of Aviva Singlife Holdings.
A veteran in the financial services industry, Ms Phau 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, she was the deputy group head of consumer banking & wealth management and has also spent 4 years in Hong Kong as the head of consumer banking & wealth management at DBS Bank Hong Kong.