Oversea-Chinese Banking Corporation (OCBC) announced the retirement of its chief financial officer Soon Tit Koon after nine years of service. He was brought back as CFO for the Singapore-based bank last year after a two-year hiatus. Darren Tan Siew Peng has been promoted to CFO and executive vice-president and assumed Soon’s responsibilities.
“Over the past nine years, Soon has been an invaluable member of OCBC’s senior management team,” said David Conner, chief executive of OCBC. “He is highly respected by our board of directors, management committee members and various other teams across the organisation for his wise counsel.”
Tan joined OCBC in 2007 as head of asset and liability management in its global treasury division from the Government of Singapore Investment Corporation where he had worked for 13 years. At the beginning of May this year he was promoted to deputy CFO and was responsible for overseeing OCBC’s financial, regulatory and management accounting, capital management, corporate development and investor relation functions under Soon.
He holds a bachelor degree in accountancy from the Nanyang Technological University and is a Chartered Financial Analyst.
“We welcome Darren to his new position,” Conner commented. “Given Darren’s strong people leadership abilities and his proven capabilities when he was the deputy CFO, I am confident he will be a valuable contributor as a member of the senior management team.”
