Oversea-Chinese Banking Corporation (OCBC) has appointed Wang Ke as its CEO for its Hong Kong office. Wang, who was appointed as OCBC’s head of Greater China on Nov 1, will take on the role with effect from Dec 15.
Outgoing CEO, Ivy Au-Yeung, will retire on Dec 31.
The Greater China region comprises the three banking subsidiaries in Hong Kong, Mainland China and Macau.
The CEO of OCBC China, Ang Eng Siong, and Kelvin Lou, the CEO of OCBC Macau, will report to Wang.
According to OCBC, the consolidated leadership streamlines the bank’s drive to “solidify its collective strengths in this region, and capture the trade, investment and wealth flows between Greater China and Asean”.
Prior to Wang’s appointments, he was also the CEO of OCBC Wing Hang China from December 2019 to October 2013. OCBC Wing Hang China is now known as OCBC China after the bank obtained the regulatory approval to change its legal name and brand on Nov 24.
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Wang joined OCBC in 2012 as the head of IT in China. He then 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 Wang’s tenure as CEO, he oversaw the building up of the bank’s critical technology infrastructure and capabilities. These included a new data centre setup and the successful implementation of the China Core Banking System within 14 months.
Wang, who was also leading the bank during the Covid-19 pandemic, saw OCBC Wing Hang China’s profit more than double since 2019.
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Au-Yeung was appointed the CEO of OCBC Wing Hang Hong Kong in 2021 after joining the bank in 2019 as its deputy CEO.
Under her leadership, Au-Yeung 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, which 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 July 3.
“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,” says OCBC’s group CEO Helen Wong.
She adds: “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.”
As at 2.20pm, shares in OCBC are trading 6 cents higher or 0.48% up at $12.68.
