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Bank of Singapore's Derrick Tan to also head HK branch


BANK of Singapore's global market head for Greater China and North Asia, Derrick Tan, has taken on the additional role of chief executive of its Hong Kong branch since March 6, the private banking arm of OCBC Bank said on Monday.

He replaces Sermon Kwan, a veteran of the bank of more than 16 years, who will remain as senior adviser to the bank.

Mr Tan will lead the overall strategy to drive Bank of Singapore's growth and presence in Greater China and North Asia with a strategic focus on the Guangdong-Hong Kong-Macau Greater Bay Area, said Bank Of Singapore.

Mr Tan, who joined the bank in March 2010, assumed the role of global market head for Greater China and North Asia in January 2018.

Its chief executive officer Bahren Shaari said: "With the push for deeper economic integration within the Greater Bay Area which Hong Kong is part of, Hong Kong's role will be more crucial."

"I am confident that Derrick, with his strong banking background, people leadership skills and proven management capabilities, will be able to lead our Hong Kong branch and Greater China franchise in its next phase of growth," he added.

Commenting on Mr Kwan, Mr Shaari said: "Sermon has served Bank of Singapore with great distinction over his 16 years with us, playing a critical role in building our Hong Kong branch from scratch.

"Under his stewardship, our Greater China franchise has expanded significantly; AUM (assets under management) has grown by more than two times in the last three years. Staff strength has increased by about 40 per cent as well."