Leading Philippine fiber broadband provider Converge ICT Solutions Inc. has appointed seasoned investment banker and finance executive Robert Leo A. Yu as its new Chief Finance Officer following a Board decision on May 10, 2024.
“The goal is to take Converge to the next phase of its evolution as a company, without taking any undue risks. The short-term plan is to make sure that all our upcoming investments are prudently funded, striking a balance of reinvesting internally generated cash flow and utilizing external sources of funds. Over the long-term term, Converge will be in a solid financial position that rewards all stakeholders,” said Yu.
An experienced corporate finance professional with over 15 years of practice in investments and valuation, Yu was a director of Malaysia-headquartered private equity firm Creador which handles $2.3 billion in funds across South and Southeast Asia before joining Converge.
Yu also served as a consultant at Converge from 2018 – 2019, putting in place a strategic and efficient capital structure plan for the company based on its performance and projected growth.
“We’re glad to welcome Robert back to Converge. We’re confident that his breadth of experience in corporate financial planning, investments, and strategy will keep Converge in a solid financial footing and will be a strong addition to the leadership team,” said Converge President and Co-Founder Grace Y. Uy.
Previously, Robert was an Investment Principal at Sierra Madre Advisers Inc., which makes equity investments in ambitious companies in the Philippines spanning a diverse range of sectors. He was one of seven investment professionals in the company managing around $70 million of growth capital dedicated to lower middle market enterprises. Prior to that, he rose through the ranks at Morgan Stanley (Southeast Asia and Consumer Coverage), starting as an Associate in 2015, and becoming a Vice President in 2017. Robert started his career in New York, focused on mergers, acquisitions and capital raising for Citigroup’s consumer-sector clients.
Robert holds a Bachelor’s degree in Accountancy, Concentration in Finance from the University of Illinois at Urbana-Champaign, and a Master’s Degree in Business Administration from the University of Chicago’s Booth School of Business. In his spare time, he conducts career-related workshops such as resume writing for college students.
“I very much look forward to working with Dennis (Uy), Grace, and all of the Converge team to transition the company beyond connectivity, without leaving anyone behind,” Yu said.
