OCBC appoints Goh Chin Yee CFO with retirement of Darren Tan

AFTER 11 years as chief financial officer (CFO) of OCBC : O39 0%, Darren Tan will be stepping down as he has opted to retire early.

According to bourse filings by the lender on Monday (Oct 10), Tan will step down on Nov 1 this year and hand over to current head of group audit Goh Chin Yee. As a member of the management committee, Goh will also be appointed a member of the management executive committee.

OCBC group chief executive Helen Wong said that the management executive committee extends its appreciation to Tan. In 2014, Tan led the lender’s expansion into China with its successful acquisition of Wing Hang Bank in Hong Kong. 

Wong also noted that Goh’s appointment reflects OCBC’s strong internal talent base for succession planning.

“The management executive committee will undoubtedly benefit from Chin Yee’s deep institutional knowledge and broad exposure across many disciplines,” she said.

Goh was formerly a management trainee, before rising through the ranks across divisions such as investment research and risk management and global treasury.

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As head of group audit since 2013, Goh implemented the use of data analytics, machine learning and robotic process automation to enhance risk insights, audit effectiveness and efficiency, the bank said. OCBC shares closed 1.4 per cent or S$0.17 lower at S$11.76 on Monday, before the announcement.