People Digest: Carsome appoints CTO; Eastspring CIO quits

Chet Sin, CTO of Carsome

Malaysia-based used car marketplace Carsome has appointed a CTO to spearhead new product development while Singapore-based Eastspring Investments announced that its CIO Virginie Maisonneuve has left the company.

Malaysia’s used car marketplace Carsome appoints CTO 

Carsome, a Malaysia-based used car marketplace, has named Chet Sin as its chief technology officer (CTO) to spearhead new product development. He will lead the engineering, product and infrastructure teams to drive regional expansion.

Before joining Carsome, he was head of IT and Digital Commerce at FWD Insurance, based in Hong Kong.

Prior to iFWD Insurance, Chet was head of Commercial Systems in AirAsia BIG where he spearheaded the system development for the successful integration of online travel retailing into the loyalty business.

Launched in 2015, Carsome is led by co-founders Eric Cheng and Jiun Ee Teoh. The company’s core business is selling cars to individuals and agents via its online bidding platform, through which it facilitates the entire sale from inspection to payment and other logistics.

Apart from Malaysia, Carsome is also present in Indonesia, Thailand, and Singapore. It claims to have one of Southeast Asia’s largest dealer networks with over 4,000 registered dealers on its platform.

Recently, we reported that Carsome is in talks to raise $40 million in a Series C funding round by the end of this year.

Eastspring CIO Virginie Maisonneuve leaves the firm

Singapore-based Eastspring Investments, the investment management arm of global insurer Prudential, announced that its Chief Investment Officer Virginie Maisonneuve has departed the company and the position will not be filled, per a report of Asia Asset Management.

The company’s investment department has been revamped into two new teams whose heads will take over the role and responsibilities of a CIO.

The investment fund strategies team will be led by Ooi Boon Peng, chief executive officer of Eastspring Singapore and Hong Kong while the investment solutions team will be headed by Kevin Blacklock.

Eastspring, the Asian asset management arm of UK insurer Prudential plc, had US$193 billion of assets under management at the end of 2018.