Sunday, 16 June 2024

OCBC appoints Wang Ke as new CEO for its Hong Kong entity

5 min read

OCBC announced further leadership renewal for its Greater China region with the appointment of Wang Ke as the CEO of OCBC Hong Kong effective from 15 December 2023. The current CEO of OCBC Hong Kong, Ivy Au-Yeung, will retire on 31 December 2023.

Wang Ke was appointed as 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. Ang Eng Siong, CEO of OCBC China, and Kelvin Lou, CEO of OCBC Macau, will report to 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 eight core pillars of its corporate strategy that was refreshed in 2022. In ASEAN, OCBC services the top seven 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.

Prior to the appointment of 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  after obtaining the regulatory approval to change its legal name and brand on 24 November 2023.

Wang joined the OCBC Group in 2012 as head of IT in China and expanded his responsibilities to include operations in 2014. He was appointed 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.

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, 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 was appointed as 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 Au-Yeung’s guidance and management. Over the past two years, Au-Yeung helped deepen the bench strength of the leadership in Hong Kong and oversaw the succession of nine leadership roles.

Helen Wong, Group CEO of OCBC, said: “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.”

Wong thanked Au-Yeung for her contributions, saying: “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.”

Re-disseminated by The Asian Banker

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