United Overseas Bank (UOB) has appointed Ong Chong Tee, the former deputy managing director of the Monetary Authority of Singapore’s (MAS) financial supervision department as an independent director of the company.
Ong, who held his role as deputy managing director of MAS’s financial supervision department from September 2013 to March 2021, will also be appointed to UOB’s executive committee and board risk management committee.
Ong was formerly a board member with the Housing and Development Board (HDB). He is presently on the boards of GIC Pte Ltd, the Council for Board Diversity and the ChainUp Group.
Based on UOB’s filing, Ong has the “necessary experience, skills and qualifications” to be one of the company’s independent directors. He will also be attending training to be educated on the roles and responsibilities of a director of a listed issuer.
Shares in UOB closed 26 cents lower or 0.83% down at $30.90 on Dec 23.