MoneyMax names CEO’s son deputy chief operating officer

Promotion forms part of the succession plan.

MoneyMax Financial Services has promoted Lim Chun Seng, the son of its executive chairman and chief executive, to group deputy chief operating officer as part of its succession planning.

The Catalist-listed pawnbroker said the appointment takes effect on 27 March and that Lim, 33, will support the chief operating officer in overseeing group operations and executing strategic initiatives.

The board said the promotion followed a review of his qualifications, working experience, and performance since he joined the group in 2018.

Lim is currently group general manager and has previously served as head of MoneyMax Leasing and MoneyMax Assurance Agency, as well as general manager across several units in Singapore and Malaysia.

MoneyMax also disclosed that Lim is the son of executive chairman and chief executive Lim Yong Guan and chief operating officer Tan Yang Hong, and the nephew of non-executive director Lim Yong Sheng.

It said he holds no shares in the group and that there is no conflict of interest.

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