UOB appoints Leong Yung Chee as new group CFO
United Overseas Bank (UOB) has named Leong Yung Chee, the current head of the bank’s group corporate banking division, as its new group chief financial officer (CFO).
Leong will officially take over the role from Lee Wai Fai, who is retiring after serving as CFO for 20 years.
Leong, who joined UOB in 2016, brings more than 25 years of experience in financial services, including leadership roles in corporate and investment banking, mergers and acquisitions, strategic transformation, and restructuring.
Leong will assume his new role as CFO on April 22, 2025, following a transitional period working with Lee as CFO-designate.
In his new position, Leong will oversee UOB’s financial strategy, as well as key functions such as finance, treasury, and data management.
The bank’s deputy chairman and CEO, Wee Ee Cheong, highlighted the importance of the transition for UOB’s long-term growth.
“As part of our commitment to creating long-term value and addressing the evolving needs of our growing regional customer base, we are refreshing our senior management team to ensure leadership continuity and to drive progressive growth,” said Wee.
The leadership change is seen as pivotal in scaling UOB’s presence across ASEAN and delivering sustainable value to stakeholders.
Lee Wai Fai, who has held the CFO role since 2005, will continue his tenure at UOB in a different capacity after stepping down as CFO. He will retain oversight of corporate real estate and services, as well as UOB Asset Management.
Lee’s 35-year career at UOB includes a variety of senior roles, such as head of the international division, deputy CEO of UOB Radanasin Bank, and head of financial control.
The transition comes as UOB continues to make key leadership appointments to strengthen its executive team. Earlier this year, the bank named Susan Hwee as the new head of group retail and Lawrence Goh as the head of group technology and operations.
Edmund Leong, who has 16 years of experience specialising in capital markets, will take over as head of group corporate banking, effective April 22, 2025. In addition to his new responsibilities, he will continue his current role as head of group investment banking.
Shares of UOB closed slightly higher by 0.3%, at S$37.35, on the day the update was announced, reflecting stable market confidence as the bank prepares for its leadership transition.