Grab, Southeast’s Asia’s leading super app, announced today that it has strengthened its finance division by hiring corporate finance veteran, Peter Oey, as Chief Financial Officer.
SINGAPORE – April 1, 2020 – Grab Holdings Inc. (“Grab”), Southeast’s Asia’s leading super app, announced today that it has strengthened its finance division by hiring corporate finance veteran, Peter Oey, as Chief Financial Officer.
Mr. Oey brings over 20 years of corporate financial and strategic planning experience to Grab, joining from legal technology solutions provider LegalZoom where he served as CFO for more than five years. Prior to LegalZoom, he was CFO of MyLife.com, a US consumer internet business, and spent over 12 years at Activision Blizzard in various roles including VP, Corporate Controller.
Based in Singapore, Mr. Oey will report directly to Anthony Tan, Grab’s Group CEO and Co-Founder. Mr. Oey will helm Grab’s finance operations, treasury, tax, procurement, and real estate and facilities department. Mr. Oey will also work closely with Grab’s President Ming Maa, who will continue to lead strategic business planning for the company.
“Last year, we made tremendous progress in growing our food delivery, payments and financial services businesses. The growth of these businesses gives us a good foundation for achieving long-term sustainable growth for our company. I’m excited to welcome Peter to the Grab family where his extensive experience scaling rapidly growing technology companies makes him a valuable addition to our business. I look forward to working together with him as we navigate these turbulent times, to deliver on our mission of empowering the lives of millions of Southeast Asians through technology,” said Anthony Tan, Group CEO & Co-Founder, Grab.
“I am privileged to be given this incredible opportunity and thrilled to be joining a company that seeks to not just simplify the everyday lives of the man-on-the-street but also elevate the financial well-being of consumers and small business entrepreneurs that drive our economy,” said Peter Oey. “I am excited to help the company execute this massive opportunity. My focus in the near term will be on enhancing our finance functions across the region, bringing greater efficiency throughout the finance organisation and looking at ways to drive us towards sustainable growth.”
His appointment comes after a strong 2019 for Grab, where Grab’s gross merchandise value doubled off the back of particularly strong performance in Indonesia. In addition, GrabFood saw its GMV grow by over 400% across the region[1], led by Indonesia, Thailand and the Philippines, while GrabPay increased total payments volume by 170%.
Building on this strong performance, Grab will continue to focus on driving cross-vertical usage while further optimizing capital efficiency. Critical pillars of Grab’s 2020 strategy include expanding its financial services offerings, growing its daily essentials delivery and concierge services GrabMart and GrabAssistant, and developing more business-to-business service offerings to better serve its growing merchant base.
[1]Dec 2018-Dec 2019