OCBC Appoints Head of Greater China Wang Ke as CEO of OCBC Hong Kong, Ivy Au-Yeung to Retire on 31st December 2023
29th November 2023 | Hong Kong
Singapore top 3 largest bank OCBC has announced the appointment of OCBC Head of Greater China Wang Ke as CEO of OCBC Hong Kong (15/12/23), with current CEO Ivy Au-Yeung to retire on 31st December 2023. OCBC: “Mr Wang Ke was appointed the Head of Greater China on 1 November 2023. The Greater China region comprises the three banking subsidiaries in Hong Kong SAR, Mainland China and Macau SAR. Mr Ang Eng Siong, the CEO of OCBC China, and Mr Kelvin Lou, CEO of OCBC Macau, will report to Mr Wang. This consolidated leadership streamlines OCBC’s drive to solidify its collective strengths in this region, and capture the trade, investment and wealth flows between Greater China and ASEAN. OCBC’s One Group approach is one of 8 core pillars of its Corporate Strategy that was refreshed in 2022. In ASEAN, OCBC services the top 7 markets – via locally-incorporated banking and insurance subsidiaries, and bank branches and offices – which contribute to over 98% of the economic growth of the region. The three banking subsidiaries in Greater China have more than 4,600 staff across 66 branches and offices. OCBC customers benefit from the seamless support that the One Group approach provides across markets.” In October 2023, OCBC appointed OCBC Wing Hang China CEO Wang Ke as OCBC Head of Greater China succeeding Tan Wing Ming, with Ang Eng Siong to succeed Wang Ke as Acting CEO of OCBC Wing Hang China. More info below:
“ OCBC Appoints Head of Greater China Wang Ke as CEO of OCBC Hong Kong, Ivy Au-Yeung to Retire on 31st December 2023 “
Helen Wong, Group CEO of OCBC: “I am pleased that Wang Ke is assuming the CEO role of OCBC Hong Kong, following his appointment as the Head of Greater China. Having Wang Ke hold both positions will achieve greater synergy and alignment for the OCBC One Group approach. I am confident that Wang Ke will continue to be a strong contributor to OCBC with his deep knowledge and vast experience of Greater China. Ivy has played a key role in strengthening the foundation of OCBC Hong Kong and repositioning it for growth since her appointment as CEO in 2021. She steered OCBC Hong Kong through the tough Covid-19 pandemic and navigated the challenging business environment while safeguarding asset quality. We thank Ivy for her valuable contributions and wish her a fulfilling retirement.”
OCBC Appoints Head of Greater China Wang Ke as CEO of OCBC Hong Kong, Ivy Au-Yeung to Retire on 31st December 2023
Wang Ke, OCBC CEO (Incoming)
Mr Wang Ke was appointed the Head of Greater China on 1 November 2023. The Greater China region comprises the three banking subsidiaries in Hong Kong SAR, Mainland China and Macau SAR. Mr Ang Eng Siong, the CEO of OCBC China, and Mr Kelvin Lou, CEO of OCBC Macau, will report to Mr Wang. Prior to the appointment of Mr Wang as the Head of Greater China and CEO of OCBC Hong Kong, he served as the CEO of OCBC Wing Hang China from December 2019 to October 2023. OCBC Wing Hang China is now known as OCBC China (the brand name) after obtaining the regulatory approval to change its legal name and brand on 24 November 2023.
Mr Wang joined the OCBC Group in 2012 as the Head of IT in China and expanded his responsibilities to include operations in 2014. He was appointed the Head of Pearl River Delta region in 2017, then assumed the position of CEO of OCBC Wing Hang China in 2019. Under his leadership, critical technology infrastructure and capabilities were built up. These included a new data centre setup and the successful implementation of the China Core Banking System within the short timeframe of 14 months. Mr Wang deftly steered the business through the COVID-19 pandemic. OCBC Wing Hang China’s profit has more than doubled since 2019. A well- respected leader, Mr Wang has built a strong team and kept the employee morale high as the nation navigated the tough COVID-19 situation. Despite challenging market conditions, in the fourth quarter of last year, OCBC China expanded its geographical coverage by opening a branch in Wuhan, the largest city in Central China.
Ivy Au-Yeung, CEO of OCBC (Outgoing)
Ms Ivy Au-Yeung was appointed the CEO of OCBC Wing Hang Hong Kong in 2021, having joined the Bank in 2019 as the Deputy CEO. She was instrumental in the formulation and implementation of the Greater China strategic plan. She was also instrumental in the successful integration of OCBC Hong Kong branch with OCBC Wing Hang Hong Kong in 2021. The integration has resulted in more efficient and effective use of talent, capital and liquidity. OCBC Wing Hang Hong Kong was renamed and rebranded as OCBC Hong Kong on 3 July 2023, under Ms Au-Yeung’s guidance and management. Over the past two years, Ms Au-Yeung helped deepen the bench strength of the leadership in Hong Kong and oversaw the succession of 9 leadership roles.
OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is one of the world’s most highly-rated banks, with Aa1 by Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker. OCBC is the second largest financial services group in Southeast Asia by assets. The Group offers a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open- architecture product platform to source for the best-in-class products to meet its clients’ goals. Its insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the leading asset management companies in Southeast Asia. The Group’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 410 branches and representative offices in 19 countries and regions.
OCBC Appoints OCBC Wing Hang China CEO Wang Ke as OCBC Head of Greater China Succeeding Tan Wing Ming, Ang Eng Siong to Succeed as Acting CEO of OCBC Wing Hang China
21st October 2023 – Singapore top 3 largest bank OCBC has appointed OCBC Wing Hang China CEO Wang Ke as OCBC Head of Greater China succeeding Tan Wing Ming, with Ang Eng Siong to succeed Wang Ke as Acting CEO of OCBC Wing Hang China. Helen Wong, Group CEO of OCBC: “I am pleased that our deep internal talent pool has provided the best candidates for these senior Greater China appointments. It affirms our commitment to nurturing homegrown talent and providing avenues for career progression and mobility. Wang Ke and Eng Siong are valuable contributors to the OCBC franchise. I am confident that, in their expanded roles, they will further advance OCBC’s strategic priorities in Greater China. Wing has created synergistic values by harnessing the OCBC One Group strengths and capabilities. He has built an effective Greater China platform that will propel OCBC to the next phase of growth. I am glad that Wing is staying on as an adviser.” More info below:
Wang Ke, OCBC Head of Greater China
Mr Wang Ke, currently CEO of OCBC Wing Hang China, will assume the role of Head of Greater China, succeeding Mr Tan Wing Ming. With Mr Wang’s appointment, Mr Ang Eng Siong, currently Deputy President and Head of Corporate Banking at OCBC Wing Hang China, will step up as the Acting CEO of OCBC Wing Hang China. Mr Ang’s appointment will be formalised once regulatory approval is obtained. Both appointments will take effect on 1 November 2023. Mr Tan will return to Singapore as an adviser to the Group CEO. Mr Wang joined the OCBC Group in 2012 as the Head of IT in China and expanded his responsibilities to include operations in 2014. He was appointed the Head of Pearl River Delta region in 2017, then assumed the position of CEO of OCBC Wing Hang China in 2019. Under his leadership, critical technology infrastructure and capabilities were built up, and the business deftly steered through the COVID-19 pandemic. OCBC Wing Hang China’s profit has more than doubled since 2019. A well-respected leader, Mr Wang has built a strong team and kept the employee morale high as the nation navigated the tough COVID-19 situation. Despite the challenging market conditions, in the fourth quarter of last year, OCBC Wing Hang China expanded its geographical coverage by opening a branch in Wuhan, the largest city in Central China.
Ang Eng Siong, Acting CEO of OCBC Wing Hang China
Mr Ang has been with OCBC since 2009. He spent 6 years in Singapore in various roles across risk management, finance and business development. As part of OCBC’s talent development programme, Mr Ang moved from Singapore to China in 2015. He was appointed China’s Chief Risk Officer in 2018 and Head of Corporate Banking in 2022. Mr Ang built a resilient risk management architecture to support the growing franchise. A strong advocate of teamwork and people development, he has deepened the capabilities of the team. On top of driving rapid growth in cross border business, he led the China Corporate Banking Division into new business frontiers in sustainable finance and renewable energy as well as the technology, media, and telecom (TMT) sector which focuses on new technology.
Mr Tan Wing Ming spent 18 years in OCBC, his first role being the Country Head of the OCBC China branch. With his successful track record in China, Mr Tan was appointed Regional General Manager of North East Asia in 2009, and was later tasked to set up and lead the Greater China Division in 2021. Since then, Mr Tan has enlarged OCBC’s share of the ASEAN- Greater China trade and investment flows by building up its transaction banking capabilities and developing new collaboration channels.
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