UOB's TMRW group head Dennis Khoo to leave bank

THE head of the UOB's TMRW digital group, which manages the bank's mobile-only bank operations under the TMRW brand, is leaving the bank. UOB said on Monday that Dennis Khoo will be leaving it to "pursue other opportunities".

Bloomberg reported on Monday that a consortium backed by TikTok owner ByteDance plans to hire Dr Khoo, citing unidentified sources. The Business Times reported in January that ByteDance has applied for a digital bank licence in Singapore.

UOB said Kevin Lam, the current country chief executive of UOB Indonesia, has been appointed to take over as head of the TMRW digital group. 

Mr Lam joined UOB in 2005 and has held senior roles over the years across functions and markets, including in personal financial services, wholesale banking and technology and operations. He also spent six years in UOB Malaysia, before his appointment in Indonesia in 2016.

Before joining UOB, he worked in various international banks and technology companies based in Singapore, Hong Kong and the United States.