The private market platform, ADDX announced today that it has appointed Oi-Yee Choo as the company’s new CEO to accelerate its expansion. Choo has been working with ADDX as the Chief Commercial Officer for the last 2 years.
Choo mentioned that she wants ADDX to become the largest private market exchange in Asia. To achieve its mission, the company is planning to expand its team from 90 to 120 individuals within this year. Most of the employees will be hired in the technology and product development departments.
In her professional career of over two decades, Choo has worked with prominent global financial firms. She held senior roles at Morgan Stanley, UBS and Citigroup Investment Bank.
“My vision is for ADDX to become Asia’s largest private market exchange. We envision ourselves as the Amazon for the alternative space. That means no matter which asset class investors are looking for and whatever their risk profile or investment horizon might be, ADDX will carry opportunities that add value to your portfolios. We want to be the first platform that comes to mind for anyone thinking about private market assets, whether they are issuers or investors, including, eventually, retail investors,” Choo said.
Projections
For 2022 and 2023, ADDX expects a massive surge in the overall transaction volume. In a recent letter to investors, the newly appointed CEO said that the company is planning to hit the level of $1 billion by the end of 2023.
“By 2023, we are projecting the total number of deals completed on our platform to multiply by four times to 100 and our total transaction volume to hit US$1 billion. Our track record suggests these targets are well within reach. We are taking ADDX beyond Singapore’s shores – our investors come from 27 countries, across Asia Pacific, Europe, and the Americas (except the US),” she added.
