Changes At The Top Of Avaloq In Asia-Pacific

Tom Burroughes

6 December 2017

, the Switzerland-headquartered fintech firm, has grouped together its regional service and software offering in Asia under the leadership of Chris Beukers, who becomes managing director for the region.

Meanwhile, Peter Scott, who has been with Avaloq since 2013 has decided to leave the company. He was involved in setting up the Singapore service centre, creating three new regional offices in Australia, Singapore and Hong Kong and forging deals with customers including Maybank, Deutsche Bank, Citic, Bank of Asia and Crestone. He plans to remain in Singapore and develop opportunities in the country’s fintech industry, Avaloq said in a statement yesterday.

Beukers has more than 25 years working in the Asia-Pacific region, and in other parts of the world. Before joining Avaloq, he has served as the executive vice president and general manager of the Asia-Pacific Business Group at Pactera Technology International. At Pactera, he has led a team of more than 700 professionals across Asia with a focus on blue-chip customers in the strategic markets Australia, Singapore, Hong Kong and Malaysia.

The firm said it will “further shape its scalable offering in a unified way” to raise its business to another level in the Asia region.

“After 10 successful years in the region, it is time for Avaloq to ignite the next growth phase in Asia Pacific. In Chris we have found the right leader who will drive Avaloq’s growth ambition in the region,” Jürg Hunziker, deputy group chief executive and Group CMO for Avaloq, said.

As reported in November, Warburg Pincus, the private equity firm, widened its ownership stake in Avaloq, the Switzerland-based banking and wealth management technology firm working in a number of regions, including Asia.

The investment house bought Raiffeisen Switzerland’s 10 per cent stake in Avaloq. In addition, Avaloq agreed in principle to acquire the remaining 51 per cent of the joint venture ARIZON from Raiffeisen Switzerland as per 1 January 2019 and take full ownership in Arizon. Furthermore, as part of the proposed transaction, ARIZON will enter into a service agreement with Raiffeisen running until the end of 2024, a statement from Avaloq said late last week.