The ex chief executive of Morgan Stanley in Singapore joined the StashAway Advisory Committee.
Robo-advisor StashAway which owns its capital markets services (CMS) retail fund management license from the Monetary Authority of Singapore (MAS), the highest standard license, uses a proprietary asset allocation framework.
The firm has also released a mobile app for both Android and iOS, and will allow customers to also deposit U.S. Dollars for investment by early 2018 it said in a press release.
Earlier this year StashAway secured a $4.08m funding, $780,000 of which is seed by the co-founders and a few angels, and $3.3m from pre-series A, led by Francis Rozario.
Heavy Hitting Committee
Sim Hwee Hoon was the regional chief operating officer of private wealth management Asia in Morgan Stanley from 2010 to 2016. She was also the CEO of Morgan Stanley Asia International, Singapore Branch, and sat on the Board of Directors of Morgan Stanley Asia International. Before Morgan Stanley, Sim spent 12 years with J.P. Morgan Private Bank Asia.
«Coming from the private banking space, I see clients accumulate wealth through investments, but these tools are not readily accessible to the broader public. I believe StashAway’s approach is simple, yet well-considered, and finally provides the public affordable access to quality investments, which would otherwise not have been available to them,» Sim said.
Sim joins up with Pranay Gupta, former head of Multi-Asset Strategies at Temasek’s Fullerton Fund Management; Annie Koh, Professor of Finance at SMU and Board Member of CPF; and Massimo Massa, Rothschild Chaired Professor of Banking and Professor of Finance at INSEAD as part of StashAway’s Advisory Committee.
