DBS has appointed Calvin Ong as head of consumer banking Singapore, with effect from Jan 1, 2025. Ong will succeed Jeremy Soo, who will retire from executive duties at the end of the year but stay on as an adviser.
Ong, 42, is currently head of investment products and advisory in the bank’s consumer banking and wealth management group (CBG/WM). Ong joined DBS as a management associate in 2007. Since then, he has had several rotations across the bank, including private equity, group planning, treasury and markets and corporate treasury.
At CBG/WM, where he has been since 2021, he led the investment products and advisory business and significantly grew investment fee income across the wealth continuum.
In his new role as head of consumer banking Singapore, Ong will oversee DBS/POSB’s consumer banking and wealth management platforms.
Soo, a banking veteran, joined DBS in 2003. As the head of Singapore consumer banking, a role he has held for the last 17 years, DBS says he played an instrumental role in operationalising the digital transformation of the franchise.
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During his tenure, Soo also spearheaded many first-in-industry innovations, which included the launch of the bank’s mobile wallet DBS PayLah!, and partnerships that have driven the adoption of digital payments in hawker centres, wet markets and heartland shops.
Shee Tse Koon, DBS group head of consumer banking and wealth management, says: “The management change reflects DBS’ deep bench strength and our commitment to grooming talent from within. Calvin’s exposure to different parts of the bank over the years has enabled him to develop the depth and breadth of knowledge to propel the Singapore consumer banking business to greater heights. I would also like to thank Jeremy for his committed leadership and invaluable contributions in fortifying our Singapore franchise by putting customers at the heart of everything we do.”
Photos: DBS
