The Singapore-based digital wealth manager has added its first independent non-executive director to its board, it announced in a statement on Tuesday.
Sim Hwee Hoon, previously a member of StashAway’s Advisory Committee, has joined the robo-advisor's board of directors. Sim 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. She is also currently a member of the board of directors of NTUC Income.
The board now consists of six members: Francis Rozario, chairman and CEO of Asia Capital and Advisors (ACA), Raj Dugar, managing partner Asia of Eight Roads Ventures and the three StashAway co-founders Michele Ferrario, Freddy Lim and Nino Ulsamer.
Recent Growth
Launched in 2017, Stashaway operates a data-driven digital wealth management platform that offers investment and cash management portfolios for both retail and accredited investors with no minimum balance or sales charges, and management fees of between 0.2–0.8 percent.
Stashaway recently partnered funds network Calastone to automate investment funds processing. It was the first robo-advisor to receive a full capital-markets services license from the Monetary Authority of Singapore, and also recently launched in Malaysia. It has raised $20.4 million so far across four funding rounds.
