Oversea-Chinese Banking Corporation (OCBC) has appointed Carina Lee Pei Queng as group chief risk officer and management committee member, effective Jan 1, 2026.
Lee is currently group chief credit officer for OCBC’s wholesale banking business. She succeeds Noel Gerald DCruz, who is retiring on Dec 31 after 36 years with the bank.
DCruz had been appointed group chief risk officer in January 2023. DCruz was previously head of risk portfolio management, where he drove the implementation of data driven risk quantification approaches for the bank’s credit portfolios and emerging risks identification.
Lee joined OCBC in January 2021 and is responsible for managing the credit risks of the group’s wholesale banking loan portfolio, covering small- and medium-sized enterprises, large corporates, financial institutions, sovereigns and counterparties. She chairs the group credit risk management committee.
From June 2021 to June this year, Lee served as a director on the board of OCBC China.
Thanking DCruz, OCBC group CEO Helen Wong says: “I would like to extend my gratitude to Noel for his invaluable contributions to OCBC. His pivotal role in establishing a robust risk management foundation has been instrumental in the growth and stability of our businesses. Noel’s generous sharing of wisdom and experience has profoundly inspired colleagues on both the professional and personal levels. He will leave behind a lasting and meaningful impact on all of us fortunate enough to work alongside him, myself included. I wish Noel a joyful, fulfilling and healthy retirement.”
See also: OCBC group CEO Helen Wong to retire end-2025; successor Tan Teck Long appointed deputy CEO
Commenting on Lee’s appointment, Wong says: “Carina’s appointment testifies to our deep bench strength. She is highly regarded as a strong leader who brings a well-calibrated approach to risk and reward. Given the increased volatility and uncertainty in the operating environment we face today, the ability to manage risks effectively is more critical than ever. Carina’s extensive experience and leadership qualities will make her an important addition to our management team.”
Wong herself will retire on Dec 31. In July, OCBC announced head of global wholesale banking Tan Teck Long will succeed Wong on Jan 1.
Tan, who joined OCBC in March 2022, has been appointed the additional role of deputy CEO.
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Following her retirement, Wong, 64, will remain the chairman of OCBC China and a director of OCBC Hong Kong, two banking subsidiaries.
Wong joined OCBC in February 2020 as deputy president and head of global wholesale banking before becoming group CEO in April 2021. According to OCBC, Wong has been spending more personal time in Hong Kong, where her family is based, since the start of the year.
Shares in OCBC closed 0.49% down at $16.36 on Sept 24.
