Former UBS Chief of Staff joins Hugosave as Chief Operating Officer

Published on 26 June 2023
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Former UBS Chief of Staff joins Hugosave as Chief Operating Officer

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Singapore, 26 June 2023 – Hugosave, Singapore’s first Wealthcare® and savings app, has appointed Karl Franks as its new Chief Operating Officer (COO). He will play a pivotal role in driving Hugosave’s strategic growth initiatives in Singapore and Asia-Pacific. Karl will also oversee the local fintech firm’s day-to-day operations and enhance operational effectiveness to support the company’s mission of elevating lives through Wealthcare®.

A seasoned executive with over 20 years of leadership experience, including 15 years gained within the financial services industry, Karl has led the delivery of strategic business management and major transformational programmes across banking divisions and consulting for major financial institutions.

“Karl brings decades of experience in business transformation, change portfolio, risk management and scaling businesses for regional growth,” said David Fergusson, CEO of Hugosave. “As we look to expand our investment offerings for users later this year and expand our footprint in Asia, Karl’s extensive leadership experience will be instrumental in propelling Hugosave to greater heights and helping more people achieve Wealthcare.”

Before joining Hugosave, Karl was the Chief of Staff to the Asia-Pacific Chief Operating Officer at UBS Wealth Management Singapore, where he oversaw the company’s regional business strategy and led the merger of the wealth institution’s COO office and operational team. During his tenure, he was also responsible for designing the wealth management change portfolio governance model which has been widely regarded as “best in class” by regulatory representatives and the Oxford SAID Business School faculty.

Prior to that, he had also held leadership roles in consulting and change portfolio management with Deloitte Consulting and Deutsche Bank in Singapore and London.

“Hugosave has experienced phenomenal growth since its launch in 2021. We now have more than 65,000 clients in Singapore who have made Hugosave a part of their journey towards financial well-being by spending, saving and investing more effectively through the Wealthcare® app. I am excited to join the team as we enter the next chapter of growth and bring onboard more product offerings to help everyone and anyone achieve Wealthcare® through a single platform,” said Karl Franks, Chief Operating Officer of Hugosave.

Hugosave is an all-in-one personal digital account that helps consumers to spend smarter, save more and invest diligently, starting with physical gold.

Re-disseminated by The Asian Banker