There is change at the top of two parts of the Asian banking group.
UOB today unveiled
leadership changes in UOB China Limited (UOB China) and UOB Hong
Kong Branch.
Adaline Zheng (main picture), who has been CEO of UOB Hong Kong
Branch, will be appointed as the new chief executive of UOB
China, taking the helm from Peter Foo, who is retiring after
15 years with the bank.
George Tung (pictured below), the lender’s country manager in
South Korea, will take over from Zheng as the CEO of UOB Hong
Kong Branch. Both appointments will take effect from 1 July, the
Singapore-headquartered bank said in a statement.
George Tung
“As the China-ASEAN economic linkages grow, we will continuously
enhance capabilities to better support our customers’
cross-border needs while further deepening client long-term
relationships,” Wee Ee Cheong, deputy chairman and CEO of UOB
said. “In Hong Kong, we are sharpening our role as a connector
and value adder between mainland China and ASEAN, while
strengthening our private banking and product capabilities to
serve customers’ evolving wealth and investment needs. Adaline
and George are both home-grown UOB leaders with deep regional
experience. They are well placed to lead our local franchise into
its next phase of growth.”
Zheng has more than 20 years of banking experience across
mainland China and Hong Kong SAR. She joined UOB China in 2018 as
head of wholesale banking, overseeing corporate banking,
commercial banking, financial institutions, structured trade and
commodity finance, transaction banking and investment banking. In
March 2024, she was appointed CEO of UOB Hong Kong Branch.
Tung has more than three decades of experience in the banking
sector spanning mainland China, Hong Kong, South Korea and ASEAN
markets. He joined UOB in 2010 and led the Hong Kong branch’s
wholesale banking business for a decade. In 2021, he was
appointed country manager of UOB South Korea. Prior to joining
UOB, he held senior positions in international banks covering the
Greater China market.
Headquartered in Shanghai, UOB China is a wholly owned subsidiary
of UOB; it was incorporated in the People’s Republic of China in
2007.