Singapore lender OCBC picks insider Tan Teck Long as next CEO

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Singapore's second-largest bank OCBC SGX:O39 said on Friday that Tan Teck Long, its head of global wholesale banking, will succeed Helen Wong as CEO when the bank's first female head retires at the end of this year.Tan, who has over 30 years of experience in banking and joined OCBC in March 2022, will carry out the duties of deputy CEO until Wong steps down on December 31, the bank said in a statement.Wong joined the bank in February 2020 as deputy president and head of global wholesale banking and became CEO in just over a year. She oversaw the integration of Commonwealth Bank of Australia's ASX:CBA Indonesian business, and led OCBC's efforts to take control of insurer Great Eastern SGX:G07, in which the bank owns a 93.72% stake, it said. "Helen sharpened OCBC's competitive edge as an integrated financial services group by ushering in a well-defined corporate strategy. She is handing over to Teck Long a very steady ship," said Chairman Andrew Lee. Wong was the first woman to head a Singapore bank at the time of her appointment. In March, Tan Su Shan became the first female leader of DBS Group SGX:D05 when she took over the reins of Southeast Asia's biggest bank from its longstanding boss and veteran banker Piyush Gupta.($1 = 1.2799 Singapore dollars)

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