The appointment comes at a time when UOB has recently bought retail banking services from Citigroup as the latter embarked on a strategic re-focus of its business.

UOB Malaysia has appointed Ng Wei Wei as its first female chief executive, effective 1 May, taking over from Wong Kim Choong (“KC”), who is stepping down from the post after leading the bank since 2012.

Wong, who will take on a new role as senior advisor, will oversee the integration of the bank’s and Citigroup’s retail banking business, until his planned retirement. (In January, Citigroup sold its Malaysia retail business to United Overseas Bank.)

Ng is an experience banker: In the earlier part of her career, from 2000 to 2006, she honed her banking skills at UOB Malaysia. Following various leadership roles at global financial institutions in Malaysia and Hong Kong, she returned to UOB Malaysia in 2019 as managing director and country head of wholesale banking, before assuming the role of deputy CEO in 2021. 

The firm said that Ng has been “instrumental” in growing UOB Malaysia’s wholesale banking franchise, and advancing the bank’s strategic priorities including its environment, social and governance, and innovation agenda.

“Wei Wei’s appointment reflects our firm belief in the importance and benefits of diversity as we anticipate customer needs in an increasingly complex, changing and volatile environment,” Wee Ee Cheong, deputy chairman and CEO, UOB Group said. “I would like to thank KC for his years of strong leadership and to congratulate Wei Wei on her appointment as CEO of UOB Malaysia.”