Veteran Singaporean banker Kevin Lam to head Malaysia’s Hong Leong Bank

SINGAPORE – Veteran Singaporean banker Kevin Lam Sai Yoke has been picked by one of Malaysia’s top banks to be its next managing director and chief executive officer.

Mr Lam, 55, who has a 30-year track record in the industry, will head to Kuala Lumpur to take over the top job at Malaysia’s Hong Leong Bank on July 1.

He succeeds Mr Domenic Fuda, who is retiring after more than seven years at the helm.

Mr Lam, who started his banking career at Citibank some three decades ago, leaves as the head of UOB’s digital banking unit, TMRW Group Digital banking.

During his three decades-long career, Mr Lam has served in leadership positions in consumer banking, sales and distribution and technology functions.

At UOB for almost two decades, Mr Lam was posted to the bank’s operations in Indonesia and Malaysia, prior to returning to oversee its digital banking roll-out in Singapore.

The graduate in business administration from the National University of Singapore started his career with Citigroup.

Asked about his plans at one of Malaysia’s top banks, Mr Lam said he would be looking to take Hong Leong Bank to the next level.

“The bank has emerged from the pandemic very strong, but now has to build on that,” he added.

“I will be looking to build a strong Asean franchise, driven by new engines of growth. Building up the wealth management franchise will also be a priority.”

Hong Leong Bank was founded in 1905 and is now controlled by tycoon Quek Leng Chan. It is one of Malaysia’s top four banks.

With some 10,000 employees, and about 330 branches, the bank also has a presence in various South-east Asian markets outside Malaysia and operates in China as well.

Its strength has traditionally been as a banker for the small and medium enterprise sector.

The company is listed on the Kuala Lumpur Stock Exchange, and has a market capitalisation of some RM41 billion (S$12 billion).