OCBC Names Tan Teck Long CEO to Boost ASEAN-China Ties

OCBC, a prominent financial institution in Singapore, has announced that its current head of wholesale banking, Tan Teck Long, will succeed Helen Wong as CEO effective January 1, 2026. This transition highlights the bank's strategic focus on leveraging the growing financial ties between Southeast Asia and China. The appointment of Tan, who brings extensive experience in China, signals OCBC's continued commitment to expanding its presence in the region.

Tan Teck Long, who joined OCBC in 2022, has a proven track record in wholesale banking. His tenure at OCBC has seen a 35% growth in global wholesale banking revenue. Prior to OCBC, Tan spent nearly three decades at DBS, where he held various senior positions, including chief risk officer. His experience includes leading DBS’s institutional banking business in China for five years, a role that has equipped him with valuable insights into the Chinese market. Additionally, Tan currently serves as a board director at two OCBC-affiliated financial institutions in mainland China, further solidifying his expertise in the region.

The strategic direction of OCBC under Tan’s leadership is expected to remain consistent with the current focus on becoming an integrated financial services powerhouse. The bank aims to capitalize on the increasing financial flows between Southeast Asia and China, driven by China's search for new trading partners. This strategy aligns with the broader economic trends, as Chinese companies invest heavily in Southeast Asia to diversify their supply chains and explore new markets. China and ASEAN are now each other’s largest trading partners, making this a pivotal region for OCBC’s growth.

Helen Wong, who will retire at the end of 2025, has left a significant legacy at OCBC. Under her leadership, the bank reported record profits for three consecutive years, with robust growth across its banking, wealth management, and insurance businesses. Wong’s tenure also saw efforts to take Great Eastern Holdings, Singapore’s largest life insurance provider, private. Although the take-private plan was rejected by remaining shareholders, Wong’s strategic initiatives have sharpened OCBC’s competitive edge as an integrated financial services group.

Wong’s decision to retire is attributed to family reasons, but she will continue to serve as chair of OCBC China and a board director of OCBC Hong Kong. Her contributions have been instrumental in OCBC’s growth, with the bank’s shares rising over 40% since her appointment as CEO. Despite this, OCBC’s shares have lagged behind rival DBS, whose shares have risen over 70% during the same period.

The appointment of Tan Teck Long as the next CEO of OCBC reflects the bank’s strategic vision to strengthen its position in the ASEAN-China corridor. With Tan’s extensive experience and deep understanding of the Chinese market, OCBC is well-positioned to capitalize on the growing economic ties between the two regions. This move underscores the bank’s commitment to leveraging its strengths in wholesale banking and expanding its integrated financial services offerings, ensuring sustained growth and competitiveness in the dynamic Southeast Asian market.