KPMG in Singapore Unveils Leadership Transition and Reinforces Commitments to Advancing Financial Services, ESG, and Transformation

• Deputy Managing Partner Lee Sze Yeng to succeed Managing Partner Ong Pang Thye on 1 October 2023, reinforcing KPMG's position as a trusted firm while driving continued growth and innovation in Singapore
• S$50 million investment over five years to further expand Singapore's thriving financial services and ESG hub through innovation and transformation

SINGAPORE - Media OutReach - 22 June 2023 - Building on its ongoing efforts, KPMG in Singapore is further reinforcing its commitment to support growth of companies with a S$50 million investment over the next five years. This additional investment aims to drive financial services innovation, build ESG capabilities, and provide support to businesses in their innovation and transformation journeys. This announcement comes alongside a leadership transition where Deputy Managing Partner and Head of Audit, Ms. Lee Sze Yeng, will succeed Mr. Ong Pang Thye as Managing Partner, effective from 1 October 2023.

Leadership Transition

Mr. Ong Pang Thye, Managing Partner, KPMG in Singapore, expressed his confidence in the firm's future direction, stating, "In today's rapidly changing world, it's crucial for companies to prioritise innovation, technology, and trust to stay ahead of the competition and create lasting value. As we prepare for a leadership transition, we remain committed to helping businesses harness the latest technologies while building trust through responsible practices. In addition, we will focus on upskilling quality talent to meet evolving demands. Our strategic focus is designed to complement the needs of Singapore's resilient, sustainable, and technologically advanced economy."

Ms. Lee Sze Yeng, Deputy Managing Partner, KPMG in Singapore commented, "I am honoured to lead KPMG in Singapore into a future where collaboration fuels innovation and progress. Addressing complex business challenges and driving meaningful change requires strategic partnerships that unite the best minds. We are committed to enhance the already flourishing financial services sector and build ESG capabilities for the future. Through this investment, we aim to foster collaboration, empower businesses with cutting-edge tools and resources, for transformation and sustainability."

Please refer to the Annex for the biographies of Mr Ong Pang Thye and Ms Lee Sze Yeng.

Accelerating Singapore's Financial Sector Transformation

Amid national efforts to further develop Singapore as a leading financial centre in Asia, KPMG will collaborate with industry stakeholders, fintech companies and regulators to support the digital transformation of businesses and financial market infrastructure. KPMG's investments come at a time of rising demand for quality advisors, as businesses outline their long-term growth strategies to support Asia's development and serve Singapore's economy. Investments into these areas will significantly advance the development and transformation of the financial services sector, specifically targeting the integration of the sector with the real economy through data, digital assets and emerging business models.

Driving ESG growth

KPMG's strategic investment in ESG capabilities and workforce upskilling aims to support businesses as they navigate the evolving regulatory landscape and capitalise on emerging opportunities in sustainable finance and green technology.

KPMG's comprehensive ESG services employ a multidisciplinary approach to support businesses in their transformation and innovation, as well as sustainability reporting, measurement, and assurance needs. KPMG's commitment is also exemplified by its ESG Centres of Excellence. The ESG Banking Centre of Excellence provides banks and financial institutions with access to digital platforms, data signals, cross-sectoral domain knowledge, and insights from KPMG's global network thereby fostering growth of the ecosystem. To support net zero aspirations, the KPMG ASEAN Decarbonisation Hub also joins forces with industry players to help businesses on their decarbonisation pathways.

Driving Business Transformation

KPMG aims to continue to provide businesses with robust solutions that prioritise digital transformation, sustainability, and social responsibility. As part of KPMG in Singapore's digital drive, the firm is enhancing technology-driven enablement through strategic alliance partnerships and KPMG Digital Village. Digital Village focuses on end-to-end innovation delivery and venture building expertise in areas such as asset tokenisation, climate change, supply chain, AI integration, and data-driven customer engagement platforms.

Annex

Biographies of Mr. Ong Pang Thye and Ms. Lee Sze Yeng

Mr. Ong Pang Thye Managing Partner, KPMG in Singapore

Pang Thye is the Managing Partner of KPMG in Singapore and a Board member of KPMG International. Pang Thye is a Council Member of the Singapore Business Federation and sits on the National University of Singapore's Business School Management Advisory Board. He also sits on the Board of Directors for Singapore's Ministry of Home Affairs' Home Team Science and Technology Agency (HTX).

Ms. Lee Sze Yeng Deputy Managing Partner, KPMG in Singapore

Ms Lee Sze Yeng is the Deputy Managing Partner at KPMG in Singapore, which is part of a global organisation of independent professional services firms providing Audit, Tax and Advisory services. As Deputy Managing Partner, Ms Lee is part of the firm's top leadership team, which is responsible for driving operational excellence and charting long-term sustainable and strategic growth across business areas. She also leads KPMG Cares, a community outreach programme of the firm focused on fostering inclusive employment, sustainable communities and social equity. Ms Lee has over 20 years of experience overseeing and driving audit excellence, which involves delivering quality auditing outcomes and insights, intelligently and efficiently. She has been working with listed and global companies, particularly in the financial services and real estate sectors, to build trust and transparency for financial reporting. This includes supporting clients to navigate the evolving and challenging regulatory landscape in areas such as instilling trust in data and financial information, internal controls review, as well as regulatory compliance. Ms Lee is also on the boards of the Singapore Business Federation Foundation, Singapore Economic Development Board and the Duke-NUS Medical School and a member of the Accounting Standards Council for Singapore. In these roles, she has actively furthered standards of accounting, while championing transparent reporting, alongside rigorous corporate governance practices. Ms Lee graduated with a Bachelor of Accountancy from the National University of Singapore. She is a Chartered Accountant with the Institute of Singapore Chartered Accountants.

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About KPMG

KPMG in Singapore is part of a global organization of independent professional services firms providing Audit, Tax and Advisory services. We operate in 144 countries and territories with more than 236,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

For more information, visit kpmg.com.sg
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