DBS appoints new CIO of consumer banking and wealth management

DBS Group Holdings said on Friday that it has appointed Hou Wey Fook as chief investment officer, consumer banking and wealth management, effective early September 2017.

Mr Hou was most recently at Bank of Singapore where he held senior management roles including chief investment officer and head of discretionary portfolio management and funds.

He started his career at Government of Singapore Investment Corp (GIC) followed by OCBC Asset Management before joining ING Asia Private Bank, which was later renamed Bank of Singapore.

Mr Hou will report to Tan Su Shan, group head of consumer banking and wealth management. His new role will see him being responsible for investment strategies including global strategic and tactical asset allocations for clients.

Lim Say Boon, the current chief investment officer of consumer banking and wealth management, has spent seven years at DBS and will be returning to Australia for family reasons, the group said.