PIS replaces head of Singapore business

Professional Investment Advisory Services (PIAS), the Singaporean arm of Queensland-based dealer groupProfessional Investment Services(PIS) has relocated chief executive officer Greg Whimp back to Australia to assume the role of PIS chief operating officer.

Whimp will be replaced in Singapore by PIS national insurance manager Bernard Maughan who relocated to the republic on Monday to assume the position of PIAS general manager and transition into the role ahead of Whimp’s departure - scheduled for early December.

Returning to the group’s Bundall headquarters in Queensland after 16 months spent setting up operations in Singapore, Whimp will now be responsible for PIS operations internationally.

Despite his imminent return to Australia Whimp remains positive on the opportunities for financial planning firms in Singapore.

“The Singaporean financial services market is at an exciting time in its evolution. The number of financial advisory firms is growing, public awareness of the need for comprehensive financial planning is increasing, and more product manufacturers are embracing the non-tied financial adviser distribution channel,” he says.

PIS, which has over 1300 advisers and in excess of $5.8 billion in funds under advice, established PIAS in Singapore in late 2001 and later struck a distribution deal with Insurance Corporation of Singapore (ICS).

PIS also has offices in New Zealand, Hong Kong and the United States, and plans to open offices in Japan.