Bank of Singapore, the private banking arm of OCBC, appointed a new chief executive for its Hong Kong branch. The banker selected for the job is a man from within the organization.
Derrick Tan, global market head for greater China and north Asia, takes on the additional role of chief executive of Bank of Singapore's Hong Kong branch. The appointment takes effect immediately, the firm said in a statement.
Tan will lead the overall strategy to drive Bank of Singapore’s growth and presence in greater China and north Asia. His predecessor as CEO, Sermon Kwan, will remain on board as senior adviser.
Looking North for Growth
Tan joined the bank in March 2010 and was appointed to the management committee as global market head for Malaysia, Brunei, Japan, Sub-Continent and Middle East in December 2014.
Before his career at Bank of Singapore, Tan held various senior positions at UBS including executive director and desk head of the Indonesia market. Prior to that, he was responsible for HSBC’s offshore international banking center.
Bank of Singapore has been experiencing robust growth by aggressively expanding its presence in Hong Kong and other locations in Greater China.
