OCBC Bank (Malaysia) has appointed Tan Chor Sen as chief executive officer, with effect from January 1 2023. He is succeeding Ong Eng Bin who will be retiring but will stay on as an adviser.
Tan has been with OCBC Bank in Singapore for more than 17 years and is a member of the management committee at the group level. He is currently the head of international, global enterprise banking, at the OCBC Bank head office in Singapore, overseeing the growth of cross-border flow businesses of small and medium-sized enterprises (SME) and mid-cap companies in the region.
He joined the OCBC Group in May 2005 and led the formation of the emerging business unit, redefining the bank’s coverage of small businesses and positioning it as a leading SME bank in Singapore, serving one in every two SMEs.
He was instrumental in expanding the SME business regionally in Malaysia, Indonesia and Hong Kong, introducing new business models, digital solutions and service innovations for the segment. In Malaysia, the team successfully launched the SME cash business and digital account opening for businesses.
Tan has actively led the bank’s strategic thrust in capturing the cross-border trade and investment flows within Asean and with Greater China. He extended the market coverage by developing onshore and offshore financing opportunities.
Ong Eng Bin joined OCBC Malaysia in 1988 as a graduate bank officer in corporate banking. He was promoted to head of corporate banking in 1998 and then to head of business banking division in 2012.
He has been instrumental in growing OCBC Malaysia to become a leading corporate bank among the foreign banks in the country. He was appointed CEO of OCBC Malaysia in August 2014. Under his leadership, OCBC Malaysia strengthened its position as one of the top two foreign banks in the country. He has also built up the Islamic banking business under OCBC Malaysia’s subsidiary, OCBC Al-Amin Bank.
Ong led the bank through the difficult pandemic years. Its total income grew 27% to reach 2.8 billion ringgit (US$625 million) in 2021. For the first nine months of this year, OCBC Malaysia recorded a net profit of 959 million ringgit, doubling the amount for the same period in 2021.