Propertyguru Appoints Ray Ferguson as New Chairman of the Board

PropertyGuru, Southeast Asia’s leading PropTech company, has appointed Ray Ferguson as the new Chairman of the Board, effective January 2024.

He succeeds Olivier Lim, who has been Chair of PropertyGuru’s Board since September 2019.

Ferguson currently serves as the Chairman of Singlife Group. He serves on the board of Paragon REIT as an independent non-executive director, is the Chairman and Co-founder of ZEN Yachts, and is the non-executive Chairman at fintech company Hashstacs Pte. Ltd.

Ray Ferguson

Ferguson has an extensive career in banking, having been with Standard Chartered Bank for 28 years across Asia, the Americas, the Middle East and Europe. His last role at Standard Chartered Bank was as Chief Executive Officer, Singapore.

Hari V. Krishnan, CEO at PropertyGuru, said:

“On behalf of the Board and management team, I would first like to thank Olivier for his leadership over the past four years. He has been an invaluable mentor to the Group leadership team and me personally as we navigated a challenging economic environment with strong growth, expansion and making some big bets.

"Most significantly, under his guidance we took the Company public, and we thank him for all his contributions to the Company. As we plan for our next growth phase, I am delighted to be working with a seasoned chairman and business builder like Ray."

PropertyGuru's Q2 results showed that the firm is still chasing profitability:

Meanwhile, the firm took the difficult decision to exit the Indonesian market in August—after 12 years of operations without achieving number one status—with two businesses being shuttered to streamline the business.