Elaine Heng to Lead OCBC’s Newly Formed Strategy and Sustainability Division
by Fintech News Singapore February 28, 2024OCBC Bank has established a new division named Group Strategy, Innovation, and Sustainability. The division aims to anchor the bank’s strategic direction, fostering innovation and sustainability efforts.
The new division, set to commence on 22 April 2024, will play a crucial role in identifying and developing new business opportunities while integrating sustainability practices into the bank’s operations.
Elaine Heng
Elaine Heng has been appointed to lead the division, bringing a wealth of experience in innovative practices and business transformation.
Heng’s previous role as CEO of Retail Business and Deputy Group CEO at Singapore’s FairPrice Group saw her reimagining the retail experience, integrating shopping with dining and entertainment to enhance customer engagement.
Her initiatives have significantly impacted community support and digital innovation, particularly with the FairPrice on Wheels programme aimed at aiding vulnerable groups.
With a banking career spanning nearly two decades, including a significant tenure at Standard Chartered Bank, Heng’s extensive experience encompasses various banking sectors and strategic planning is said to position her as a strong leader for OCBC’s new strategic venture.
The creation of this division is part of OCBC’s broader strategy to refine its corporate direction, including leadership renewal, brand revitalisation, and strategic acquisitions within ASEAN.
The bank has also recently appointed Mike Ng as its Chief Sustainability Officer to spearhead its sustainability goals.
Helen Wong
Helen Wong, Group CEO of OCBC said,
“The formation of Group Strategy, Innovation and Sustainability is another key milestone in our transformation journey. We are pleased that Elaine will join us on 22 April to head this new unit. 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. In the area of sustainability, Mike as our Chief Sustainability Officer will work closely with Elaine to drive and deepen the integrated components of our agenda.”
Featured image credit: Edited from Freepik
