As part of the changes, the Singapore-headquartered bank has appointed a head of the unit.

Oversea-Chinese Banking Corporation, aka OCBC, has created a new division called Group Strategy, Innovation and Sustainability.

The unit, which will be set up on 22 April, will be led by Elaine Heng (main picture), who has been chief executive of retail business and deputy group CEO at Singapore’s FairPrice Group. (FairPrice comprises the NTUC FairPrice chain of supermarkets and other entities.)

Before Fairprice, Heng spent close to 20 years in banking, 15 of which were at Standard Chartered Bank. 

Last July, the Singapore-headquartered bank created the role of chief sustainability officer, taken up by sustainable finance figure Mike Ng (pictured). Ng joined the bank as the head of structured and project finance in 2010 before expanding his role to drive the offerings of sustainable finance solutions among large corporates in 2018. In June 2022, he assumed the role of head of sustainability office, global wholesale banking.

Mike Ng

OCBC is the parent of Bank of Singapore, the private bank.