As part of its dedication to career mobility and leadership growth, UOB has appointed two to its management team.

Commencing on 1 April 2024, Kelvin Ng will assume the role of head of group global markets, succeeding Leslie Foo, who is retiring, and Adaline Zheng has been named the UOB Hong Kong branch’s next chief executive officer, effective 25 March 2024.

The bank has expanded its platform and cross-business segment cooperation in the last several years, as well as its market share and exposure.

As the new head of group global markets, Ng will be in charge of financial products and treasury solutions for a variety of asset classes to assist UOB’s clients with their risk, liability, and investment needs.

Along with optimising the bank’s assets within its risk framework, he will also be in charge of handling UOB funding and liquidity in compliance with legal requirements as part of management.

Ng, who joined UOB in June 2019 as group head of trading, has over 20 years of expertise in the markets. He formerly held executive positions in foreign banks’ trading departments.

Additionally, Ng has served as group global markets deputy head since March 2022. He will report to Frederick Chin, head of group wholesale banking and markets, in his new position.

In her role as CEO of UOB Hong Kong Branch, Zheng will be in charge of managing UOB’s operations and commercial ventures in the Hong Kong Special Administrative Region (SAR).

She will be establishing the company’s strategic goals, promoting expansion and development, and upholding positive connections with key constituencies like regulators and clients.

Zheng began her career in the banking industry over two decades ago as a management trainee at a Chinese multinational bank. She rose through the ranks, holding numerous leadership positions in wholesale banking, including Shanghai branch’s general manager and China’s deputy head of commercial banking.

She began working for UOB in 2018 as the company’s head of wholesale banking in UOB China, and then later became alternate chief executive officer.

Zheng has extensive expertise in integrated branch operations management, business management, and product offerings in both commercial and investment banking.

Moreover, Zheng succeeds Christine Ip, who has been CEO of UOB Hong Kong Branch since 2012 and will report to Ip, who remains as UOB’s CEO of Greater China, a role she has held since 2016.

Wee Ee Cheong, chief executive officer and deputy chairman, UOB, stated: “Growing our own timber and supporting our people to realise their potential is a key focus for the Bank. Kelvin and Adaline have extensive banking experiences and deep knowledge of their respective businesses, and are well placed to contribute to the Bank’s business growth in their new capacities. I also thank Leslie for his leadership and wish him all the best in his retirement.”

At the end of 2023, UOB published its first net zero progress report, reaffirming its goal of reaching net zero by 2050.