KKR, a leading global investment firm, announced the establishment of Ascend Asia Financial Services Group (“Ascend Asia”), a new financial advisory platform based in Singapore. In tandem with this launch, Ascend Asia, through funds managed by KKR, has entered into definitive agreements to acquire finexis advisory and its affiliates (“finexis”), marking finexis as the first member firm to join the platform.
Ascend Asia is Singapore’s first platform of its kind dedicated to uniting and empowering financial advisory firms. The platform is designed to elevate the capabilities of its member firms by providing access to strategic support, deep industry insights, and enhanced operational resources. Through this model, Ascend Asia aims to advance excellence across Singapore’s financial advisory sector while preserving the entrepreneurial spirit and unique cultures of individual firms.
Spearheading Ascend Asia is an experienced leadership team with extensive expertise across both global and local financial markets. The platform is led by CEO Tomas Urbanec, former CEO of Prudential Singapore. The executive team also includes Chief Risk & Compliance Officer Tan Siew Yen, who previously served as Chief Risk Officer at Aviva and Income Insurance, and General Counsel Leonard Ong, whose legal leadership spans organizations such as AXA, Asia Capital Re, and AIA. Patrick Teow, former CEO of AIA Singapore, has joined as Senior Advisor. The team plans to continue strengthening its leadership bench in the coming months.
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With the support of Ascend Asia, member firms will be better positioned to scale and enhance their value propositions. Key areas of support will include investing in professional development, upgrading technology platforms, enhancing customer relationship management systems, and maintaining the highest standards of regulatory compliance—all while ensuring each firm retains its distinct identity and operational autonomy.
