UOB sets up tech oversight committee in board reshuffle

[SINGAPORE] UOB said on Wednesday (Jun 24) that it will establish a Board Technology Committee to guide the bank’s technology and digital strategy. 

The committee, which will be effective from Jul 1, will also oversee UOB’s technology risk management, operational resilience and governance, the bank said in a bourse filing. 

Separately, UOB named Steven Phan as lead independent director, a role that takes effect on Jul 1. 

His appointment follows the redesignation of Wong Kan Seng to non-executive and non-independent director, after completion of his nine-year term as independent director.

Wong also becomes non-independent chairman on Saturday.

The bank also announced other changes to its board committees, effective Jul 1. 

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These include the role changes of Ong Chong Tee, who replaces Michael Lien in the nominating committee; and UOB deputy chairman and chief executive Wee Ee Cheong, who will step down from both the board risk management and executive committees.

Shares of UOB closed 0.2 per cent or S$0.06 higher at S$39.90 on Wednesday, prior to the announcement.