In tandem with its 10th anniversary celebrations, Azalea Investment Management announced that its CEO, Margaret Lui, will retire.
Lui has served as the company’s CEO since its founding in 2015. She will be retiring on March 31.
Azalea’s chief investment officer (CIO) Chue En Yaw will become the company’s new CEO on April 1. He will also retain his responsibilities as CIO following his appointment.
During her tenure as CEO, Lui oversaw the launches of the Astrea PE Bonds and Altrium PE Funds. The company, which currently manages about US$11 billion ($15 billion) in assets, also solidified its reputation in the private equity (PE) sector under Lui’s leadership.
Chue, who joined Azalea in 2018, was credited in shaping the evolution of the Azalea platform, beginning with his involvement in Astrea II when he was at Temasek. During his time with the company, Chue also led the development of the Altrium platform, which enabled accredited investors to access strong-performing PE funds globally while overcoming the traditional challenges of accessing PE.
“I am deeply honoured to have this opportunity to lead Azalea in its next phase of growth. Building on the strong foundation laid by Margaret, I look forward to working with the team to deliver innovative solutions and prioritise sustainable, long-term performance for our stakeholders,” he says.
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"En Yaw has demonstrated exceptional leadership in growing Azalea’s assets under management and establishing Azalea’s reputation in the market. I am delighted to hand over the reins to him and am committed to working closely with the board and En Yaw to achieve a smooth transition,” adds Lui, who will serve as an advisor to Azalea and remain on the investment committees for existing funds in the Altrium platform after her retirement.
"The board has worked closely with Margaret and the management team on succession planning and after a comprehensive evaluation process, we are pleased to appoint En Yaw as CEO,” says Jimmy Phoon, chairman of Azalea and CEO of Seviora Holdings. “En Yaw’s appointment demonstrates the strength of our internal talent and with his drive and deep knowledge of the business, I look forward to En Yaw driving the next phase of Azalea’s growth, working with the Seviora management team and as an integral part of the Seviora Group."
