PwC Singapore taps Paul Pak to lead asset & wealth practice

PwC Singapore has tapped Paul Pak to lead its Asset & Wealth Management practice.

Professional services firm PwC Singapore has appointed Paul Pak as the new leader of its Asset & Wealth Management practice, effective from the beginning of the month. Prior to his promotion, Pak has led PwC’s risk, regulations and compliance team within its Asset & Wealth Management practice, and altogether brings more than two decades of wealth management experience to the new role.

A partner with the firm since 2009, Pak first joined PwC in Australia in 1997 following a bachelor of commerce in accounting and finance from the University of Singapore. Working his way up to senior associate level, Pak then crossed for a year to the New York office of PwC as an assistant manager, before rejoining PwC in Sydney as a manager. He then transferred to PwC in London for two year from 2004.

After joining PwC Singapore in 2006 as a senior manager in its asset management division, Pak has steadily worked his way up the ranks, becoming an associate director, then lead audit partner, and finally Risk, Regulations and Compliance Leader in 2012. Now, he will head up the firm’s asset and wealth management practice (AWM), taking over the role from Justin Ong, who has led the practice since 2006.

“In the last 5 years, we have seen the pace of change within the asset and wealth management industry pick up and the Singapore landscape is evolving faster than ever before. With Paul’s vast international experience with asset and wealth managers, I’m confident that he will be able to lead the Singapore practice through this new and exciting era,” said Ong, who will continue to lead the practice across APAC.

Another PwC veteran, Ong joined PwC Singapore in 1992 after completing a bachelor of economics from Monash University. Since then he has held a number of leadership roles within the firm’s AWM division, including Singapore Asset Management leader and Asia Pacific Private Banking Leader, and since last year Singapore Financial Services Assurance Leader, a role he will continue to perform.

“I would like to thank Justin for his unwavering commitment and successful leadership of PwC Singapore’s AWM practice over the last thirteen years,” commented Pak. “Under his visionary leadership, Justin’s contribution has gone beyond the strategic growth of the practice and our clients – he has also been a passionate advocate in furthering the development of Singapore’s AWM industry.”

Pak, who is a practicing member of both the Institute of Singapore Charted Accounts (ISCA) and Institute of Charted Accountants Australia, continued; “The opportunity to lead this practice is humbling. I look forward to working with the team to build upon the vision, success and solid foundation, and importantly help our clients navigate and maximise the opportunities in the exciting era to come.”