OCBC Group CEO Helen Wong to step down end-2025; Tan Teck Long named successor

SINGAPORE: OCBC group CEO Helen Wong will step down from her role at the end of this year, the bank said in a bourse filing on Friday (Jul 11).

She will be succeeded by the bank's head of global wholesale banking Tan Teck Long. Mr Tan will take over as group CEO on Jan 1, 2026.

He will also with immediate effect assume the additional role of deputy CEO to facilitate the transition process over the next six months, said OCBC.

Ms Wong, 64, will remain the chairman of OCBC China and a director of OCBC Hong Kong - both "strategically important banking subsidiaries" - after her retirement, added the bank.

OCBC said that Ms Wong, who is from Hong Kong, had expressed her wish last year to retire for family reasons. She had joined OCBC in February 2020 as deputy president and head of global wholesale banking, before becoming group CEO in April 2021.

"Since the start of 2025, she has been spending more personal time in Hong Kong, where her family is based," said OCBC.

"The Board reluctantly accepted Helen’s request to retire to spend more time with her family. We thank her for agreeing to stay on to continue providing stewardship as Chair of our China Board and a director of the Hong Kong Board, given her vast experience and deep knowledge of Greater China," said Mr Andrew Lee, chairman of OCBC Group’s board of directors.

Ms Wong was the first woman to head a Singapore bank at the time of her appointment.

On Mr Tan's new appointment, Mr Lee said it came after a "rigorous global search" and that the board had "unanimously agreed" that he was the best candidate.

Mr Tan, 55, joined OCBC in March 2022 and has chaired the bank's Strategic Resilience Group since May. He also serves as a director on the boards of Bank of Ningbo and Maxwealth Fund Management Company in China, which are both affiliated with OCBC.

"He has demonstrated sterling leadership that goes beyond growing the wholesale banking business; as chair of the OCBC Strategic Resilience Group, he has shown the ability to zero in on the critical issues, be forward-thinking and act decisively," said Mr Lee.

"STRONG TRACK RECORD"

In his role as head of global wholesale banking, Mr Tan is responsible for all banking relationships with small and medium-sized enterprises, large corporates and financial institutions, as well as transaction and investment banking businesses globally, said OCBC, noting his "strong track record".

"With Teck Long’s appointment, there will be no disruption to OCBC’s corporate strategic direction of becoming an integrated financial services powerhouse," said Mr Lee.

"Teck Long will refine and enhance our corporate strategy, leveraging OCBC’s comprehensive franchise and anchored on the One Group approach, so that OCBC’s growth and reach will break new ground. The Board and I are delighted to congratulate him on his new role as Group CEO," Mr Lee added.

On his new appointment, Mr Tan, who is Singaporean, thanked the board for the "honour" to lead the bank, adding: "Helen has laid down a firm foundation and I will be privileged to build on that.

"In many respects, a new season has begun for the world economy but the One OCBC Group approach Helen has led us in championing will remain strategically critical to capturing opportunities amid expanding ASEAN-Greater China connectivity."

Before joining OCBC, Mr Tan was the group chief risk officer at DBS. He has over 30 years of banking experience under his belt, including senior positions leading global corporate banking businesses and risk management functions.

LEGACY

Noting Ms Wong's legacy, OCBC said that since assuming the group CEO role in April 2021, she has achieved record profits for three consecutive years, with "strong growth" across all its core pillars of banking, wealth management and insurance.

Under her leadership, OCBC also increased its stake in Great Eastern from 88.44 per cent to 93.72 per cent via a voluntary general offer in July 2024.

In February this year, she unveiled the bank's largest capital return plan in its history, with S$2.5 billion in special dividends and share buybacks over two years.

Thanking Ms Wong for her contributions, Mr Lee said: "Helen sharpened OCBC’s competitive edge as an integrated financial services group by ushering in a well-defined corporate strategy. Together with the team, Helen has executed the strategy in a clear and disciplined manner.

"The Board and I offer her our unreserved thanks and wish her a very happy retirement."

Ms Wong said it has been a rewarding journey to lead OCBC and she was pleased to hand the baton over to Mr Tan.

"His bold leadership style, immense sense of responsibility and vision coupled with grit will steer OCBC confidently into the future," she said.

"The synergies of our unique banking, wealth management, insurance and asset management franchise will be further maximised under Teck Long’s leadership."