Banking veteran Ang Tang Chor has been appointed president of Hong Leong Finance (HLF) following the resignation of Mr Ian Macdonald.

Mr Ang, who has more than 40 years of experience under his belt, takes up the post on Oct 1.

In his new role, Mr Ang will have overall responsibility for HLF's operations.

He has been Hong Leong's deputy since December 2014 after joining the firm in 2003.

Mr Ang is also chairman of WizVision, a precision engineering software company, and a director of the Defence Science Organisation National Laboratories, ST Electronics (Info-Software Systems) and ST Electronics (Enterprise 1).

Mr Macdonald, 60, who has been in Singapore for the past 14 years, was appointed to the post in February 2002.

He has also been a non-executive director at Atlantis Resources, a tidal power generation company since December 2013.

Mr Macdonald, who has worked in finance for more than 30 years, previously held an executive position at a unit of Australia's Westpac Bank.

HLF also announced the appointment of Mr Kevin Hangchi as a non-independent non-executive director with effect from Oct 1.

Mr Hangchi, the nephew of HLF chairman and managing director Kwek Leng Beng, is senior vice-president in Hong Leong Management Services and director of Millennium and Copthorne Hotels New Zealand, a listed subsidiary of the Hong Leong Group.