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Finexis Asset Management rebrands as Ascend Asia Asset Management with expanded mandate

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  • Dedicated asset management team to enhance and elevate value proposition of the financial advisory member firms on the Ascend Asia platform
  • Renamed FAM funds and corresponding factsheets with effect from October 16, 2025

SINGAPORE – October 16, 2025 – Finexis Asset Management (“FAM” or “汇信资管”), an affiliate of finexis advisory, has rebranded as Ascend Asia Asset Management (“昇亚资本”). Under the new brand, Ascend Asia Asset Management will broaden its mandate to provide investment and wealth solutions to all member firms of Ascend Asia Financial Services Group (“Ascend Asia” or “昇亚”).

 

Ascend Asia, which was established by global investment firm KKR, is the first platform in Singapore for financial advisory firms and aims to elevate the standards of the financial advisory industry. By empowering member firms with resources, network and expertise, Ascend Asia aims to reshape the advisory landscape and provide consumers with greater choice and value through an open architecture model.

 

Ascend Asia Asset Management’s expertise spans the design and management of funds offered through insurers’ investment-linked products, as well as tailored wealth solutions for accredited investors. Under the expanded mandate, the firm will strengthen the value proposition of Ascend Asia’s member firms and their financial consultants through exclusive access to institutional insights; innovative, high-quality funds; and advanced wealth management solutions that help accredited investors preserve and transition their wealth across generations.

 

Looking ahead, the firm aims to broaden its range of investment strategies and solutions to meet consumers’ evolving needs, particularly in areas such as wealth accumulation and retirement planning. Leveraging Ascend Asia’s resources and network, it will also equip financial consultants on the platform with the appropriate tools to deliver better long-term outcomes for their clients.

 

Tomas Urbanec, CEO, Ascend Asia, said, “Ascend Asia’s goal is to serve as an enabler for member financial advisory firms, and collectively elevate Singapore’s financial advisory industry so that we deliver greater value to consumers through our open architecture model. The rebranding of FAM as Ascend Asia Asset Management is a significant milestone for Ascend Asia, as we provide our member firms access to a dedicated asset manager. Our financial consultants can look forward to a wider range of investment solutions and institutional products, as well as comprehensive wealth management services – ultimately giving consumers greater choice.”

 

Faith Chen (陈黎嘉), CEO, Ascend Asia Asset Management, said, “This rebrand reflects a broader mandate and a renewed ambition to elevate the asset management capabilities of Ascend Asia’s member firms and their financial consultants. We are building on our foundations to help clients grow, preserve and transition their wealth across generations, while supporting more financial consultants across the Ascend Asia platform to deliver holistic, high-quality wealth management advice.”

 

In conjunction with the renaming of FAM, the corresponding FAM funds and their related factsheets have been renamed with effect from October 16, 2025 to reflect their new Ascend Asia identity.

 

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Ascend Asia

About Ascend Asia Financial Services Group 

Founded in 2024, Ascend Asia is committed to elevating the quality of financial advisory services in Singapore  and beyond. As a holding company, Ascend Asia supports its member firms in scaling sustainably through  strategic investment, industry expertise, and technology. Through an open-architecture platform, member  firms and their consultants are empowered with a comprehensive range of solutions and tools to deliver  personalised financial advice – enabling clients to make informed decisions that best meet their needs.  

 

Find out more at http://www.ascendasiagroup.com. 

 

 

Ascend Asia Asset Management

About Ascend Asia Asset Management

Ascend Asia Asset Management is the asset management arm of Ascend Asia, a platform that supports financial advisory firms in scaling sustainably through strategic investment, industry expertise, and technology. Ascend Asia Asset Management provides member financial advisory firms with institutional insights, innovative high-quality funds, and advanced wealth management solutions for their accredited clients.

 

Find out more at https://www.ascendasiaam.com

 

KKR Launches Financial Advisory Platform Ascend Asia in Singapore

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Ascend Asia is led by Tomas Urbanec, former CEO of Prudential Singapore

finexis joins as first member of platform

SINGAPORE – July 1, 2025 – KKR, a leading global investment firm, today announced the launch of Ascend Asia Financial Services Group (“Ascend Asia”), a newly established financial advisory platform in Singapore. Concurrently, Ascend Asia, through funds managed by KKR, has entered into definitive agreements to acquire finexis advisory and its affiliates (together, “finexis”), marking finexis as the platform’s inaugural member firm.

 

Ascend Asia is the first platform in Singapore for financial advisory firms, which is established to empower member firms to provide their best to their clients and to support the continuing development of best practices in Singapore’s financial advisory industry. Specifically, Ascend Asia will provide member firms with strategic expertise, in-depth industry knowledge, and resources.

 

Ascend Asia is led by a seasoned leadership team with deep global and local industry experience. Led by CEO Tomas Urbanec, former CEO of Prudential Singapore, the leadership team includes Chief Risk & Compliance Officer Tan Siew Yen, former Chief Risk Officer at Aviva and Income Insurance; and General Counsel Leonard Ong, who has led legal functions at AXA, Asia Capital Re, and AIA. Patrick Teow, former CEO of AIA Singapore, serves as Senior Advisor. Ascend Asia intends to further strengthen its senior bench in the coming months.

 

Ascend Asia will look to support its member firms’ growth by augmenting their capabilities to serve their clients – including to invest in professional development, enhance technology, strengthen customer relationship management, and uphold regulatory standards – while retaining their individual strengths and culture.

 

Prashant Kumar, Partner and Head of Southeast Asia Private Equity, KKR, said, “In today’s increasingly complex macro environment, the value of trusted, high-quality financial advice becomes ever more crucial.  Financial consultants play a critical role in helping consumers understand their options and make informed  decisions. We are pleased to work with Tomas and the experienced Ascend Asia team to help member firms  scale, innovate, and deliver greater value to their clients. We look forward to drawing on KKR’s global network,  operational expertise, and deep insurance knowledge to support Ascend Asia’s growth and build up  Singapore’s financial advisory industry.” 

 

Tomas Urbanec, CEO, Ascend Asia, said, “Ascend Asia aims to strengthen Singapore’s financial advisory ecosystem by supporting high governance standards and fostering sustainable growth. We believe that access to an open architecture and multiple providers uniquely position our member firms to offer consumers greater choice and flexibility. As an important first step, we are delighted to welcome finexis as Ascend Asia’s inaugural member. finexis has established itself as one of Singapore’s leading financial advisory firms over the past two decades. We look forward to collaborating with more like-minded firms to elevate Singapore’s financial advisory industry.”

 

As a member firm of Ascend Asia, finexis will continue to operate under its own brand, with no changes to existing client relationships or agreements. Clients will continue to be served by the same financial consultants.

 

Warren Lim, CEO and Chief Talent Officer, finexis, said, “finexis is a people-centric financial advisory firm that empowers clients with innovative, bespoke financial solutions for every stage of life. Joining Ascend Asia marks an exciting step forward, giving us greater access to growth capital, resources, technology, and operational expertise to scale responsibly and sustainably. What this means for existing clients is an enhanced user experience, broader solutions and even greater value – all delivered by the same financial consultants who have been serving them. This is a major milestone for finexis as we embark on our next chapter of growth and continue to impact lives beyond finance.”

 

KKR makes its investment from its Asia Fund IV. This marks KKR’s latest investment in Singapore and the  insurance sector globally. Investments in Singapore include V3 Group, a lifestyle and wellness company whose  brands include OSIM, LAC, TWG Tea, and Bacha Coffee; Goodpack, a provider of sustainable packaging  solutions; PropertyGuru, a PropTech company; Nxera, Singtel’s regional data centre platform; and ST Telemedia Global Data Centres. This transaction also builds on KKR’s deep insurance experience globally, including Global Atlantic, KKR’s insurance business; USI Insurance Services, one of the largest insurance  brokerage and consulting firms in the United States; APRIL, the largest wholesale insurance broker in France; and Söderberg & Partners, a leading pension advisor, wealth manager, and insurance broker in the Nordic region. 

 

The acquisition of finexis has received in-principle approval from the Monetary Authority of Singapore. The transaction is expected to close in the third quarter of 2025, subject to customary approvals.  

 

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About Ascend Asia Financial Services Group 

Founded in 2024, Ascend Asia is committed to elevating the quality of financial advisory services in Singapore  and beyond. As a holding company, Ascend Asia supports its member firms in scaling sustainably through  strategic investment, industry expertise, and technology. Through an open-architecture platform, member firms and their consultants are empowered with a comprehensive range of solutions and tools to deliver  personalised financial advice – enabling clients to make informed decisions that best meet their needs.  

Find out more at http://www.ascendasiagroup.com. 

 

About KKR 

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and  disciplined investment approach, employing world-class people, and supporting growth in its portfolio  companies and communities. KKR sponsors investment funds that invest in private equity, credit and real  assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life  and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s  investments may include the activities of its sponsored funds and insurance subsidiaries. 

For additional  information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. 

For additional  information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com. 

 

About finexis 

Established in 2005 with a mission to impact lives beyond finance, finexis is one of Singapore’s leading financial  advisory firms. With a multi-product, open-architecture platform, our team of over 1,100 financial consultants and staff is dedicated to delivering personalised financial advice and bespoke solutions – placing our clients’ best interests at the heart of what we do. 

For more information, please visit https://www.finexis.com.sg. 

 

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For more information on KKR, please visit www.kkr.com.

 

In late 2024, KKR established Ascend Asia as an independently run platform that seeks to support the growth of financial advisory firms, with a primary initial focus on Singapore. KKR will draw from its global network, operational expertise, and deep insurance experience, which has included APRIL Insurance in France, Söderberg & Partners in the Nordics and Netherlands, and USI Insurance Services in the US, to accelerate Ascend Asia’s growth.