Insurance services provider NTUC Income announced has appointed Ronald Ong Whatt Soon to succeed Stephen Lee Ching Yen as Chairman of the board. Ronald’s appointment is effective from Jan 1, 2019.

Lim Boon Heng, Chairman of NTUC Enterprise stated, “Ronald is an eminent business leader. I am confident that Ronald will lead Income to greater success, delivering value and accessibility of insurance to all Singaporeans.”

Ronald is currently the Chairman and Chief Executive Officer for South-east Asia at Morgan Stanley, where he has worked for around 20 years in various positions. He joined NTUC Income as a board member in August this year and also sits on the board of NTUC Fairprice Co-operative Limited and Next 50 Limited.

Besides, he is a member of the Singapore Exchange's Listings Advisory Committee and serves on the advisory boards of the Lee Kong Chian School of Business and the Sim Kee Boon Institute for Financial Economics, at the Singapore Management University.

On his appointment, Ronald stated, “It is a great honour to serve Income as its chairman, catering to the financial and protection needs of two million policyholders. I look forward to working with my fellow directors on the board, building on Income's trusted value proposition as a social enterprise.”

Ronald’s appointment comes as NTUC Income hopes to leverage his vast experience and track record. Ronald will be expected to accelerate digitalization, innovation, and growth at NTUC and carry on the momentum for growth and transformation-an agenda of most Singaporean firms these days.

Image Credits: fairprice.com