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UOB Makes Top-Level Changes

Editorial Staff 29 March 2024

UOB Makes Top-Level Changes

Singapore-headquartered UOB has announced two senior management changes.

United Overseas Bank has made two appointments to its management team: Kelvin Ng is taking over as head of group global markets from 1 April, replacing Leslie Foo, who is retiring. 

With effect from 25 March, Adaline Zheng has been appointed as the new CEO of UOB’s Hong Kong branch, the bank said in a statement this week.

Ng will be responsible for treasury solutions and financial products across multiple asset classes to help UOB’s clients meet their investment, liability and risk management needs. Ng, who has more than two decades of markets experience, joined UOB in June 2019 as group head of trading. 

In his new role, Ng will report to Frederick Chin, head of group wholesale banking and markets.

Zheng will be responsible for overseeing UOB’s businesses and operations in Hong Kong, defining its strategic directions, driving growth and development. Zheng, who has more than two decades of experience in the banking sector, started out as a management trainee in a multinational bank in China. She joined UOB in 2018 as head of wholesale banking in UOB China and later served concurrently as its alternate CEO.

Zheng has succeeded Christine Ip, who has been CEO of UOB’s Hong Kong branch since 2012. Zheng will report to Ip, who is remaining as UOB’s CEO of Greater China, a position she has held since 2016. Ip is concurrently UOB’s head of group strategic communications and brand in Singapore.

UOB opened its first Hong Kong office in 1965.

To see a report on the Singapore-headquartered group's recent financial results, click here. The death of chairman emeritus Wee Cho Yaw in February has prompted speculation about the control of the Wee family dynasty over the bank. 

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