Tricor Group (Tricor), Asia’s leading business expansion specialist providing integrated business, corporate, investor, human resources and payroll, corporate trust and debt services and strategic business advisory, announced the appointment of seasoned international tax and strategic business leader Chee Weng Lee as Global Head of Tax.
Since Tricor’s acquisition of Axcelasia in April 2020, Tricor has steadily strengthened its tax, compliance and advisory solutions. This acquisition included TAXAND Malaysia and further expanded Tricor’s tax solutions under the leadership of Dr Veerinderjeet Singh and Mui Lee Leow, enabling Tricor to further complement its corporate and business services offerings to clients. Tricor Group has now further invested in growing its regional and global tax compliance and advisory capabilities with the appointment of Chee Weng Lee who will be based in Hong Kong SAR.
Chee Weng Lee is a veteran of the Big Four accounting firms, with over 35 years of tax and business advisory experience having served as Head of International Tax, Asia Pacific and Partner at Arthur Andersen (the Hong Kong practice was later merged with PwC, Deloitte and, most recently, EY) where he was the Markets Leader, Greater China Business Tax Services Leader and Asia Pacific Tax Finance Operate Leader. With a focus on the markets in Asia Pacific, he has serviced some major multinationals and large Hong Kong conglomerates as the Global Client and Tax Service Leader across a wealth of industries including express transportation, telecommunications, hospitality, real estate, infrastructure and manufacturing. He is a CPA in Hong Kong, Australia and Malaysia and is also a fellow at the Taxation Institute of Hong Kong. Chee Weng Lee received a Bachelor of Economics with a major in Accounting & Finance from Monash University (Australia) and an MBA from the Australian Graduate School of Management.
Dual-reporting to Lennard Yong, Tricor Group CEO, and Joe Wan, CEO of Hong Kong, Chee Weng Lee will be charged with servicing corporate, international and personal tax compliance, planning and business process outsourcing (BPO) for clients in the 21 countries Tricor serves. Tricor’s tax team advises clients in all areas of domestic and international tax law, spanning every stage of the business life cycle from incorporation to business expansion and IPO.
Lennard Yong, Tricor Group CEO, said: “Chee Weng’s wealth of experience and market knowledge will play a key role in energizing and expanding our global tax advisory business. As business expansion and tax needs continue to shift, his focus will be to build a tax services business for Tricor Global advising clients on their tax compliance and by deploying BPO, automation and technology, thus bolstering our position as the leading professional service provider in Asia Pacific. We welcome Chee Weng to the Tricor team and wish him a successful tenure with us.”
Joe Wan, CEO of Hong Kong, said: “We are excited to welcome Chee Weng to our team. He is a profoundly skilled tax expert with vital Big Four experience and an outstanding track record of helping multinationals navigate an increasingly complex and dynamic global tax landscape. Chee Weng’s appointment will expand our capabilities and deepen our market presence in tax advisory and BPO, working with clients here in Hong Kong and across our Asia Pacific and global footprint.”
Chee Weng Lee, Global Head of Tax, said: “As tax systems continue to evolve and new global business models and needs emerge, it is a very exciting time for Hong Kong and Asia Pacific. But changing market dynamics and the OECD’s actions in countering harmful tax practices with a focus on improving transparency, challenges local, regional and international businesses to ensure that their profit allocation and nexus rules are aligned with their business models. My priority will be to provide clients with effective advisory on all tax-related matters and unifying and empowering our global team to work together to provide towards exceptional solutions to our clients and the communities we serve.”
About Tricor Group
Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, and strategic business advisory. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 50,000 clients globally (including 20,000 clients in Mainland China), a staff strength of over 2,700 and a network of offices in 47 cities across 21 countries / territories. Our client portfolio includes over 1,500 companies listed in Hong Kong SAR and Mainland China, ~500 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.