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Treasury & Capital Markets / On The Move
OCBC forms new unit to sharpen growth focus
Elaine Heng leads group strategy, innovation and sustainability division
The Asset 27 Feb 2024
Elaine Heng
Elaine Heng

Singaporean lender OCBC is forming a new division, Group Strategy, Innovation and Sustainability, in a bid to further strengthen its strategic focus on growth.

The new division will be set up on April 22 to lead the charge in realizing and maximizing the potential new business growth engines and emerging trends, in addition to sustainability, according to the bank.

OCBC says it has renewed its leadership team, refreshed its brand and reframed its purpose. It has also made strategic acquisitions in the Asean region. The bank recently appointed a chief sustainability officer to pursue an ambitious sustainability agenda.

The new unit will be led by Elaine Heng, who has a “track record of spearheading innovative practices and business transformation to drive growth in a disruptive environment”.

Heng was previously chief executive officer of retail business and deputy group CEO at Singapore’s FairPrice Group. Before that, she spent close to 20 years in banking, 15 of which were with Standard Chartered Bank.

Commenting on Heng’s appointment, OCBC’s group chief executive officer Helen Wong says: “Having managed different banking functions across the region and run the largest retail group in Singapore, she brings a unique perspective to OCBC. Her keen sense of business challenges and realities, as well as her forward-looking mindset and strategic acumen, will complement our innovative culture at OCBC.”

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