HONG Kong-based financial services firm AMTD Group is setting up a professional services arm, after acquiring a controlling interest in the non-assurance business of accounting and consulting firm Nexia TS for an undisclosed sum.
AMTD Group's chairman and chief executive Calvin Choi will also become the non-executive chairman of the overall Nexia TS Group, both companies announced in a joint statement on Friday. Following the acquisition, Nexia TS will be the platform under the new business segment - named AMTD Services - to serve small and medium-sized enterprises in Asia.
Within Singapore, the Nexia TS Group also plans to hire an additional 100 local staff, especially mid-career Singaporeans, over the next 12 months, according to the joint statement. It aims to have women comprising at least 60 per cent of these hires. "Nexia TS embraces diversity and women leadership," the two companies said in the statement. Of the 18 directors on Nexia TS's board, eight are women, according to the company's website as at Friday. The website also stated Member of Parliament Sitoh Yih Pin as the chairman.