SINGAPORE, 2 May 2014 - With effect from 2 May 2014, Justin Ong has taken over as Asset Management Leader for the Asia Pacific region of the PwC global network.
Prior to 2 May 2014, Ong headed up the Singapore Asset Management practice for PwC.
Robert Grome, who has been PwC’s Asia Pacific Asset Management Leader since 1996, retired on 1 May 2014. Grome has been in PwC in Asia since 1987, and based in Singapore for the last four years, where he led the firm’s Asset Management Industry Practice in Asia and also served on PwC’s Global Asset Management Leadership Team.
Over the years, Grome has shown his dedication to the development of the Asset Management industry sector by his close involvement across areas such as financial and operational due diligence, internal controls, funds start-ups, corporate finance deals, market entry stock exchange listing and regulatory and compliance. He has also been a regular speaker on topical subjects impacting the industry in both Asia and Europe. His relocation from Hong Kong to Singapore in 2010 also helped drive the continued growth in the PwC Singapore asset management practice, in particular hedge funds and private equity.
Ong has more than 22 years of experience in working with asset managers in Singapore, London and Continental Europe, including Luxembourg where he spent two years on secondment in 2011 and 2012.
During his time in Luxembourg, Ong was the primary Asian liaison, advising Asian asset managers on market entry and fund distribution in Europe, with a focus on UCITS funds and regulatory compliance matters. He was also the main contact for European financial institutions looking to gain entry to Asia in the areas of fund distribution, trust administration and wealth management.
His broad experience ranges from market entry strategies, fund distribution, advising on internal controls and investment performance measurement, among many others.
Besides his achievements within the PwC network, Ong currently sits on the Investment Management Association of Singapore’s Regulatory Committee and Risk & Performance Committee. In this capacity, he has been an advisor to the CFA Institute’s Examination Review Panel for the Certificate in Investment Performance Measurement between 2008 and 2010. He also chairs the Institute of Singapore Chartered Accountants RAP 7 “Reporting Framework for Unit Trusts” Sub-Committee.
Reflecting on his time with PwC, Grome says:
“It has been a privilege and an honour to serve as Asset Management Leader for Asia Pacific. Over the years, the industry has grown and developed extensively to where it is today. As a network, PwC has and continues to add value to the industry and to our clients in the form of innovative thought and strategy, and I am proud to have been a part of that. I am truly pleased that Justin is taking over the reins, and am fully confident that under his leadership, the Asset Management practice will reach even greater heights to serve our clients with pride and distinction.”
Of Grome and his new appointment, Ong, says,
“I have been privileged to work with Robert for many years. His insight into the industry has been key to the development of our expertise in the network, and his achievements are clearly demonstrated through the dedication and strength of the current practice.
“These are big shoes to fill, and while I am honoured and humbled to be appointed, I know that it is by placing my trust in the people who have been working with Robert and I within and outside of the PwC network that will determine our collective success in serving our clients and the industry.”