Singapore, 31 August 2018 — NETS announced the appointment of Mr Ching Wei Hong as its new Chairman with effect from 1 September 2018. Mr Ching, 59, is the Chief Operating Officer of OCBC Bank and succeeds Ms Tan Su Shan, who has been Chairman of NETS since 12 January 2016.
Mr Ching has been the COO of OCBC Bank since 15 April 2012 and is also currently the Chairman of Bank of Singapore and OCBC Securities as well as Deputy Chairman of Lion Global Investors.
In his capacity as COO of OCBC Bank, he is responsible for the Global Wealth Management and Consumer division, focusing on building the OCBC Group’s consumer banking franchise and wealth management business in its key markets in Asia. Mr Ching also oversees Group Customer Experience and OCBC Bank’s fintech and innovation unit, The Open Vault at OCBC.
In his tenure with OCBC Bank, he has held senior management responsibilities across various roles including Chief Financial Officer, Head of Group Operations and Technology and Head of Transaction Banking. Mr Ching has more than 30 years of experience in regional finance, corporate banking and cash management. Before joining OCBC, he was Director of Corporate Finance, Philips Electronics Asia Pacific Pte Ltd. He also held senior regional assignments in Bank of America and was Treasurer of Union Carbide Asia Pacific. Mr Ching holds a Bachelor of Business Administration from the National University of Singapore.
Said NETS Group CEO Jeffrey Goh, “We are delighted to have Wei Hong take up the Chairmanship at NETS again. His vast experience and proven credentials both within and beyond the banking industry has been an invaluable asset to NETS. We look forward to his continued guidance and insights as NETS embarks on our next phase of growth and development as a market leader in innovative payment solutions.”
Mr Goh also thanked outgoing Chairman Ms Tan Su Shan for her contributions to NETS. Ms Tan is currently the Managing Director and Group Head of Wealth Management and Consumer Banking at DBS Bank. She will remain as Board Director of NETS after relinquishing her role as Chairman.
“On behalf of the Group, I would like to thank Su Shan for her leadership and contributions to NETS. During her tenure as Chairman, Su Shan oversaw a number of strategic initiatives including NETS’ acquisition of BCS and BCSIS, and the addition of core funds transfer services such as GIRO and FAST, as well as the successful delivery of our NETS 2.0 strategy involving the launch of contactless and mobile payments, and QR code payments at hawker centres in support of Singapore’s Smart Nation agenda. We are pleased to have Su Shan stay on as our Board Director and continue to contribute to NETS with her in-depth knowledge of the finance sector,” said Mr Goh.