SINGAPORE - PwC Singapore executive chairman Gautam Banerjee will be retiring on Dec 31 this year, passing the helm to Yeoh Oon Jin.

In a media release yesterday, PwC Singapore said that Mr Yeoh - currently leader of the firm's assurance service line - will become executive chairman designate with effect from July 1, and executive chairman on Jan 1 next year.

Mr Banerjee, who is 58 this year, will be stepping down, having reached the firm's mandatory retirement age for partners.

He has spent more than 30 years with the firm, becoming executive chairman in 2004. Under his leadership, PwC Singapore grew and evolved from a predominantly audit and tax practice to a multi-disciplinary professional services firm.

He also brought the Singapore firm closer to the global PwC network to promote talent exchange and to provide better service to PwC's regional and international clients.

Within the PwC group, Mr Banerjee has taken on other key roles, including being a member of PwC's global strategy council of leaders.

Outside PwC, he is active in supporting the private sector and in promoting Singapore as an international business centre. He was a Nominated Member of Parliament in Singapore from 2007 to 2009 and is currently vice-chairman of the Singapore Business Federation. He also serves on the boards of various organisations such as the Economic Development Board.

"It has been a privilege and an honour to serve as chairman of PwC Singapore," Mr Banerjee said. "I am really pleased that Oon Jin will be my successor and we will work closely together to ensure a smooth leadership transition . . . I strongly believe that under Oon Jin's leadership, PwC Singapore will move forward to even greater heights and serve our clients with great distinction."

Mr Yeoh, who is 51 this year, has been with PwC for 25 years. He became PwC Singapore's assurance leader in 2004, heading the firm's largest practice in terms of revenue and headcount.

He also sits on the boards of several organisations such as the Accounting and Corporate Regulatory Authority and has been a council member of the Singapore Institute of Directors for the last five years. He is also a council member of the Institute of Certified Public Accountants of Singapore (ICPAS).

This article was first published in The Business Times.