OCBC sets up division for innovation and sustainability, picks Fairprice’s Elaine Heng as head

OCBC introduced on Tuesday (Feb 27) its plan to arrange a division named Group Strategy, Innovation and Sustainability, below the financial institution’s slate of strikes to solidify its strategic focus and generate future development.

The new division shall be headed by Elaine Heng, 48, and presently the chief govt of retail enterprise and deputy group CEO at Singapore’s FairPrice Group.

Before her stint with the FairPrice Group, she spent practically 20 years in banking, 15 of them at Standard Chartered Bank.

OCBC famous Heng’s strong observe file in spearheading progressive practices and enterprise transformation to drive development in a disruptive surroundings.

The appointment takes impact on Apr 22, the identical day the brand new unit begins its operations.

The creation of the division follows OCBC’s addition of a chief sustainability officer (CSO) function final August, in a transfer to speed up the group’s sustainability efforts.

Heng is predicted to work carefully with CSO Mike Ng to assist the financial institution determine and seize alternatives in rising enterprise developments, along with specializing in sustainability.

Helen Wong, OCBC’s group CEO, mentioned: “The new unit will add value by helping to future-proof our businesses, bring to fruition cutting-edge business ideas and models across the group, and identify and develop new business growth engines.”

She is assured that Heng’s “keen sense of business challenges and realities, as well as her forward-looking mindset and strategic acumen, will complement the innovative culture at OCBC”.

Before the announcement, the shares of OCBC closed on Tuesday at S$13.31, down S$0.02 or 0.2 per cent.

Source: www.businesstimes.com.sg”