SINGAPORE (July 9): OCBC Bank has appointed banking veteran Kenneth Lai as its new head of global treasury with effect from October 1, 2020.

He succeeds Lam Kun Kin, who will be retiring after 33 years in the financial industry, 13 of them in OCBC Bank.

Lai will report directly to OCBC Bank’s group CEO Samuel Tsien. He will also be appointed a member of the bank’s management committee.

In his eight years with OCBC, Lai has “significantly expanded and strengthened the bank’s international treasury operations, product and market coverage, as well as earnings contribution”, says OCBC in a Thursday statement.

“After the acquisition of Hong Kong’s Wing Hang Bank in 2014 to become OCBC Wing Hang Bank, Mr Lai helped to strategically transform the two treasury platforms in Hong Kong into a hub covering North Asia,” it adds.

Lai brings to the table a 30-year career in the banking industry. He has been with OCBC since February 2012, and was at Ta Chong Bank in Taiwan previously.

Shares in OCBC Bank closed 8 cents lower, or 0.9% down, at $9.25 on Thursday.