Hong Leong Bank announced that it has appointed Mr Tan Kong Khoon as Group MD/CEO effective 1 Jul 13.
- Mr. Tan joins HLB with over 30 years in the banking industry, bringing with him a breadth of professional experience and a strong track record in leading and managing large and complex banking businesses. His career has seen him hold various senior positions in multinational banks and financial institutions across Asia including Standard Chartered Bank, Citibank N.A and Cigna International. Mostly recently, he was the Group Executive for the Consumer Banking Group of the Development Bank of Singapore ("DBS"), where he led and managed strategy formulation and execution for consumer banking globally across the entire group.
- Prior to joining DBS, Mr. Tan held the position of President and CEO of Bank of Ayudhya (¡§BAY¡¨), Thailand, where he led and managed the whole banking group comprising banking, fund management, stock broking and insurance businesses. Under his leadership, the bank experienced a healthy and robust growth in business, with net income growing four times during his tenure. (BMSB)
The above does not come as a surprise to us as it was already stated in yesterday's Starbiz. We are positive that there is no gap for the position of the CEO in HLB to be filled after Datuk Yvonne Chia retired on 28 Jun 13. We are confident on the abilities of Mr Tan, who is equipped with 30 years of experience in the banking industry, to manage and grow the bank. We do not expect a drastic change in the strategic directions of HLB under the stewardship of Mr Tan as the major shareholder Tan Sri Quek Leng Chan is believed to be actively involving in the management of the bank.