OCBC names a new head of global treasury to replace Lam Kun Kin who will be retiring after 33 years in the financial industry.
Kenneth Lai was internally appointed head of global treasury and a member of OCBC’s management committee, according to a statement, effective October 1 and report directly to group chief executive Samuel Tsien.
OCBC thanked the outgoing treasury head, Lam, for his work since first joining the bank and the role 13 years ago. Tsien noted not only contributions in enhancing business models but also «strong work culture in the trading room that promotes prudent risk-taking and control» alongside tech infrastructure investments.
«No Stranger»
Tsien called Lai «no stranger» to the bank, lauding his output since joining the bank’s treasury unit in 2012, having «significantly expanded and strengthened» its operations, coverage of product and markets, and earnings contribution. Lai's additional asset-liability management role also enhanced the bank's liquidity management capabilities and funding optimization, Tsien added.
Lai has 30 years of experience and was before joining OCBC was last the Carlyle-appointed head of financial markets at Taiwan’s Ta Chong Bank to support a revamp for a buyout.
Previously, he also served a 7-year period with ABN AMRO in various senior roles including Asia head of local markets FX, Asia head of institutional sales and head of global markets in Malaysia. Lai previously also worked with Merrill Lynch, Canadian Imperial Bank of Commerce and Banker Trust Company.
