Flying high: how Lucia Ma reinvented treasury at experiences platform Klook
Published: Feb 2026
A Rising Star
Overall Winner
Lucia Ma, Klook
Photo of Lucia Ma, Klook.
Lucia Ma
Group Treasurer
Klook is a Singapore and Hong Kong-based online travel and leisure booking platform that was founded in 2014.
Challenging the status quo post Covid
It’s no exaggeration to say that Lucia Ma, Group Treasurer at Klook, had an unconventional entry into treasury. She used to be a social media editor at the experiences platform; stepped into corporate finance – to support fundraising efforts – but then took over Klook’s treasury function in 2021 during the COVID-19 pandemic, one of the most challenging times for the industry.
Her non-traditional career trajectory has shaped Lucia’s approach to treasury. For example, instead of formal qualifications, her knowledge has been gleaned from close collaboration with bankers and industry resources. She’s also free from any preconceived limitations about what treasury teams should or shouldn’t do, and has a keen focus on building solutions.
This has included spearheading the development of Klook’s proprietary foreign exchange (FX) trading platform in response to the post‑pandemic surge in FX trading volumes. Traditional third-party aggregators proved expensive and unsuitable for Klook’s high-volume, multicurrency requirements and Lucia decided to develop a first-in-industry approach that most treasury professionals wouldn’t attempt.
Working with Klook’s internal engineering team, she created an integrated platform that connects multiple banks through APIs with J.P. Morgan Payments serving as the first integration partner. The system features automated currency netting, algorithmic rate selection, automated run-time and settlement, and comprehensive reconciliation across different banking systems. So Klook’s compact treasury team is able to oversee a vast global banking portfolio, managing operations across diverse international markets and currencies while handling significant FX flows.
Embracing technology
Lucia’s can-do approach extends beyond FX management. She recently implemented a comprehensive treasury management system (TMS) in collaboration with J.P. Morgan Payments, delivering real-time cash visibility, automated reconciliation and straight through processing capabilities.
“No one else does treasury like we do it. Sometimes, others will explore a solution and find it’s too difficult or encounter some problems and then just give up. That will not happen in our team,” states Lucia, who says her leadership philosophy is based upon possibility rather than limitation. It’s a mindset that has transformed Klook’s treasury from basic operational functions to a cutting-edge, highly automated operation that supports the company’s global growth.
Driving change
Lucia speaks regularly at industry forums and advocates for women in treasury leadership. She also jumps at the opportunity to expand her responsibilities within Klook where she now oversees inventory management, leading a combined team of 10+ people across both treasury and inventory functions.
Lucia’s self-taught expertise, combined with a deep commitment to innovation, positions her as a transformative force in treasury management, earning her a reputation for making the impossible possible through determination and creative problem solving. Her unique background means she brings no biases or pre-conceived notions always focused on what is best for the business.
Her approach demonstrates how treasury can evolve from a support function to a strategic growth driver. By refusing to accept market limitations, she has created new solutions and fundamentally changed how treasury operations can scale in technology companies.
Her willingness to challenge conventional treasury wisdom, combined with proven implementation capabilities, represents the future of treasury leadership. Lucia doesn’t just manage treasury; she reimagines what treasury can achieve.
An unconventional journey into treasury
Traditional treasury professionals typically follow established paths that include finance degrees, banking experience and gradual progression through treasury roles. Lucia combines a strong academic foundation – she holds a degree in Economics and Finance from the University of Hong Kong and CFA Level 3 certification (achieved during maternity leave) – but her career trajectory has also been unconventional. Her journey from part-time social media editor to Group Treasurer in just seven years represents an unprecedented acceleration that has delivered exceptional operational efficiency and innovation for Klook.
Lucia’s diverse experience has become her greatest asset. Without formal treasury training, Lucia approaches challenges without industry biases about what’s “possible” or “standard practice.” This mindset helps her to conceptualise and implement the proprietary FX platform, a solution that more experienced treasury professionals might have dismissed as too complex or risky.
Leadership vision extends beyond treasury
Lucia’s decision to assume responsibility for inventory management demonstrates the confidence she inspires amongst the company’s senior leadership team as well as her ability to master new domains quickly. This trust stems from her proven ability to learn quickly, implement smoothly and deliver results that exceed expectations.
Her future aspirations focus on connecting treasury data with broader business operations to create fully automated, error-free financial operations in an extension of treasury’s role from cash management to strategic business intelligence.
Lucia is certainly someone to watch in the treasury space. Her career trajectory suggests she will continue to redefine treasury leadership and beyond, pioneering new approaches to cross-functional treasury management and financial technology integration.
“It is with great pride and confidence that I wholeheartedly endorse Lucia Ma for the Rising Star award. As the CFO of Klook, I have had a front-row seat to Lucia’s exceptional trajectory and her profound impact on our financial operations and strategic direction.
“What truly distinguishes Lucia is her remarkable ability to rapidly master complex new domains. When she assumed leadership of our treasury function during the COVID-19 pandemic – a field entirely new to her – her capacity for self-directed learning and swift comprehension of intricate financial mechanisms was extraordinary. She significantly elevated and expanded our existing treasury operations into a sophisticated global function. She further demonstrated this aptitude by seamlessly expanding her responsibilities to oversee the critical operational area of Inventory & Prepayment Control, mastering its complexities with impressive speed.
“Complementing this is Lucia’s proven leadership and collaborative prowess. She expertly manages teams located across Asia Pacific, navigating the complexities of global operations spanning an extensive international footprint. Crucially, Lucia fosters exceptional cross‑functional collaboration. Her close partnership with our R&D department has been fundamental in achieving key operational goals. Lucia’s leadership philosophy, centred on possibility and collective success, inspires her geographically dispersed teams and colleagues across Klook.
“Lucia represents the future of finance leadership: a self‑motivated learner who conquers new challenges with speed and depth, a decisive leader who effectively manages complex global and cross-functional teams across multiple locations, and a collaborative force who builds bridges across the organisation. She is an outstanding and highly deserving candidate for the Rising Star award.”
Shang Chuang, Chief Financial Officer, Klook
The Adam Smith Awards Asia are the industry benchmark for best practice and innovation in corporate treasury. To find out more please visit treasurytoday.com/adam-smith-awards-asia
