DBS has appointed Calvin Ong as head of consumer banking for Singapore, effective January 1 2025. He will succeed Jeremy Soo, who will retire from executive duties at the end of the year and 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).
A graduate of Oxford and Harvard, 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.
In his eight years in corporate treasury, Ong was a key member of the management team responsible for the transformation of DBS’ balance sheet management, capital and funding, and structured corporate transactions. He rose through the ranks to become deputy corporate treasurer.
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, amid market volatility.
In his new role as head of consumer banking Singapore, Ong will oversee DBS/POSB’s consumer banking and wealth management (Treasures) platforms to further enhance the way the bank meets customers’ banking, payment, investing, and financial planning needs across all digital and physical touchpoints.
