The bank has named an interim CEO to manage the firm.

Bank of Singapore’s chief executive Bahren Shaari will be retiring at the end of 2022, rounding out a 13-year spell at the bank, this news service can confirm.

According to an internal memo dated 16 December, OCBC chief executive Helen Wong said that a successor would be named as soon as possible. (Bank of Singapore is a subsidiary of OCBC.)

Until a permanent successor is appointed, Vincent Choo – OCBC’s outgoing group chief risk officer who has been a director on the board of the Bank of Singapore since 2014 – will take over from the start of January. 

On his LinkedIn profile, Shaari said: “I’m immensely grateful and proud of the 13 years I’ve spent at Bank of Singapore, Asia's global private bank. It has been a great privilege for me to work with a team of dedicated colleagues who are the best at what they do.”

Bank of Singapore did not comment on the matter nor issue a statement. 

From 1996 to 2008, Shaari worked at UBS. He is currently a board member at the National University of Singapore, according to his LinkedIn profile.