AVIVA Singlife has named Pearlyn Phau as its new executive director and group chief executive, following the S$3.2 billion merger between Singlife and Aviva Singapore last November.

The appointment, which is subject to regulatory approval, will be effective on Aug 18.   

A veteran in the financial services industry, Ms Phau will replace Nishit Majmudar, the current chief executive of Aviva Singapore, who will step down from his executive and board roles and become a senior advisor to the board.

Aviva Singlife’s interim group CEO Walter de Oude will remain on the board as deputy chairman.

He noted that Ms Phau is a “catalyst for our new era”, as the group looks to push for new heights to further its ambition. “(We will) continue to challenge the industry in its evolution, both in Singapore and beyond.”    Ms Phau, a Singaporean, has held various senior leadership roles within DBS Group in Singapore and Hong Kong. She is currently the group head of consumer products, marketing and ecosystem partnerships at the bank, and oversees product lines in the region.

Apart from leading Aviva Singlife, she will  take on additional roles as executive director and chief executive of both of the group’s two Singapore licenced insurers, Singlife and Aviva Singapore. These appointments are also subject to regulatory approval.

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The scheme of transfer which will combine the two entities, has been approved by the Monetary Authority of Singapore (MAS). It is now subject to the approval of Singapore courts and is expected to complete later this year. 

Ray Ferguson, chairman at Aviva Singlife, said Ms Phau brings a “deep knowledge across a wide spectrum of financial products and services”. 

“She is a strong leader with a digital mind-set and a demonstrable track record in transformation strategies and operational execution.”

Ms Phau noted that the merger, which brings together the best of Singlife’s technology and Aviva’s quality advice, presents a “compelling opportunity” for her. This is also because of the board’s vision and commitment to “see a new breed of financial services emerge in this unique and challenging time”.

“I am delighted to have been entrusted with this exciting role and look forward to delivering on that vision for the benefit of Singaporeans and the region.”