28 June 2023
Discover the latest developments from KPMG in Singapore as they announce a leadership transition and reinforce their commitment to advancing the financial services sector, ESG capabilities, and business transformation.
As businesses face increasing challenges in today’s rapidly changing world, KPMG in Singapore is reaffirming its commitment to supporting growth and innovation. The firm has announced a significant S$50 million investment over the next five years, aimed at driving financial services innovation, enhancing ESG capabilities, and providing crucial support to businesses in their transformation journeys. This investment coincides with a leadership transition, with Ms. Lee Sze Yeng, Deputy Managing Partner and Head of Audit, set to succeed Mr. Ong Pang Thye as Managing Partner, effective from 1 October 2023.
Mr. Ong Pang Thye, the current Managing Partner, expressed his confidence in the firm’s future direction, emphasizing the importance of prioritizing innovation, technology, and trust to stay ahead of the competition and create lasting value. As KPMG prepares for a leadership transition, their commitment remains steadfast in helping businesses harness the latest technologies, building trust through responsible practices, and upskilling talent to meet evolving demands. The strategic focus of KPMG aligns with the resilient, sustainable, and technologically advanced economy of Singapore.
Ms. Lee Sze Yeng, the incoming Managing Partner, expressed her honor in leading KPMG in Singapore into a future where collaboration fuels innovation and progress. She stressed the significance of strategic partnerships in addressing complex business challenges and driving meaningful change. KPMG is dedicated to enhancing the flourishing financial services sector and building ESG capabilities for the future. Through the S$50 million investment, KPMG aims to foster collaboration, empower businesses with cutting-edge tools and resources, and drive transformation and sustainability.
Accelerating Singapore’s Financial Sector Transformation
KPMG’s investments come at a pivotal time amid national efforts to establish Singapore as a leading financial center in Asia. Collaborating with industry stakeholders, fintech companies, and regulators, KPMG will actively support the digital transformation of businesses and financial market infrastructure. With businesses outlining their long-term growth strategies to serve Singapore’s economy and contribute to Asia’s development, the demand for quality advisors is rising. KPMG’s investments in these areas will significantly advance the development and transformation of the financial services sector, particularly by integrating the sector with the real economy through data, digital assets, and emerging business models.
Driving ESG Growth
Recognizing the evolving regulatory landscape and the emerging opportunities in sustainable finance and green technology, KPMG is strategically investing in ESG capabilities and workforce upskilling. This investment aims to support businesses in navigating the complex ESG landscape, ensuring they can capitalize on sustainable finance opportunities. KPMG’s comprehensive ESG services employ a multidisciplinary approach to support businesses in their transformation, innovation, sustainability reporting, measurement, and assurance needs. The firm’s commitment is further exemplified by its ESG Centers of Excellence, including the ESG Banking Center of Excellence, which provides banks and financial institutions with access to digital platforms, cross-sectoral domain knowledge, and insights from KPMG’s global network, fostering growth in the ecosystem. Additionally, the KPMG ASEAN Decarbonisation Hub collaborates with industry players to assist businesses in their decarbonization pathways, aligning with their net-zero aspirations.
Driving Business Transformation
KPMG remains dedicated to providing businesses with robust solutions that prioritize digital transformation, sustainability, and social responsibility. As part of their digital drive, the firm is enhancing technology-driven enablement through strategic alliance partnerships and KPMG Digital Village. The Digital Village focuses on end-to-end innovation delivery and venture building expertise in areas such as asset tokenization, climate change, supply chain optimization, AI integration, and data-driven customer engagement platforms.
KPMG in Singapore’s S$50 million investment and leadership transition reflect the firm’s unwavering commitment to supporting business growth, driving innovation, and fostering sustainability. By prioritizing collaboration, cutting-edge technologies, and strategic partnerships, KPMG aims to empower businesses, accelerate the transformation of the financial services sector, and contribute to the development of a resilient and technologically advanced economy in Singapore.