OCBC's deputy president Ching Wei Hong to retire

OCBC'S deputy president Ching Wei Hong will retire at the end of September after 22 years with the bank, it said in a bourse filing on Tuesday.

With effect from Oct 1, 2021, Sunny Quek will be appointed as the acting head of global consumer financial services. Mr Quek is currently OCBC's head of consumer financial services in Singapore. (see amendment note)

Mr Quek will also be appointed a director of OCBC Securities, subject to regulatory approval, the bank's chief executive Helen Wong said in an email to staff on Tuesday afternoon.

Mr Quek will report directly to Ms Wong, as will Bahren Shaari, CEO of Bank of Singapore.

Mr Ching has been in his present position for close to two years.

The 62-year-old joined OCBC in November 1999 as head of transaction banking, was promoted to executive vice-president in 2005, chief financial officer in 2008, and chief operating officer in 2012.

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In 2012, he was also appointed chairman of Bank of Singapore.

Mr Ching was appointed deputy president in early 2020 to "recognise his contributions" in synergising the banking group's wealth management business, transforming the franchise digitally, and growing both its wealth management and consumer banking arms.

In her memo to the staff, Ms Wong highlighted Mr Ching's contributions to the bank over the years, including driving the development of online transaction management system Velocity@OCBC, leading the development of its Internal Capital Adequacy Assessment Process (or ICAAP) for Basel II, as well as strengthening the wealth management business for the group.

"I am deeply grateful to Wei Hong for building a strong foundation upon which our wealth management and consumer banking businesses will grow from strength to strength. Please join me in wishing him a healthy and happy retirement," Ms Wong wrote.

Amendment note: The story has been clarified to make clear that Mr Quek has been appointed as the acting head of global consumer financial services. He is currently OCBC's head of consumer financial services in Singapore.