United Overseas Bank (UOB) has announced the appointment of Victor Ngo as the new CEO of its Vietnam subsidiary, starting Thursday.
Ngo succeeded Harry Loh, who will return to Singapore to lead Group Non-Financial Risk Management.
Ngo has over 30 years of banking experience, including around 18 years with UOB after first joining in 2004. He held various senior roles at the Singaporean bank including Head of Group Audit from 2006 and Head of Group Compliance from 2017 to 2022. Previously, he worked at a global bank based in Singapore and Australia for 17 years.
Since 2015, Ngo has been active in engaging businesses and banking partners in Vietnam. He was instrumental in helping UOB become the first Singapore bank to establish a foreign-owned subsidiary in Vietnam in 2017.
In his new role, he will lead efforts to deepen digital capabilities, expand the financing offering and connect clients to market opportunities within Vietnam and across the bank’s regional network.
“Victor has deep market knowledge and a strong affinity with Vietnam. With his extensive experience in the banking industry and within UOB Group, he is well placed to drive our Vietnam franchise to new heights,” said UOB Group Deputy Chairman and CEO Wee Ee Cheong.
Singapore is one of the biggest foreign investors in Vietnam, with investment portfolios mainly in real estate, banking and finance services, logistics, and education. The island state ranked first in terms of registered capital in the first quarter of this year, with $2.29 billion.
UOB is a leading bank in Asia with a global network of more than 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. UOB established its presence in Vietnam with the opening of a representative office in 1993 and was the first Singapore bank to launch a branch in the country in 1995.
UOB Vietnam currently offers a range of personal and institutional financial services to both Vietnamese and overseas customers across the country backed by the seamless connectivity offered through UOB’s regional network. In 2019, UOB Vietnam expanded into northern Vietnam with a branch in Hanoi.