UOB retail head Eddie Khoo to become senior advisor to UOB Vietnam

Singapore’s leading bank UOB has announced Susan Hwee, currently head of Group Technology and Operations (GTO), will succeed Eddie Khoo as head of Group Retail, and Eddie Khoo will become a senior advisor to UOB Vietnam.

In a Wednesday statement, UOB said changes in leadership will become effective on September 1. Lawrence Goh, COO for GTO and head of Group Infrastructure Platform Services, will assume the position of head of GTO.

Eddie Khoo joined UOB in 2005. Khoo has been pivotal in growing UOB’s Group Retail business into a strong regional franchise, with a customer base of more than eight million, the bank said.

Vietnam is a market with great potential, and UOB Vietnam is vital to strengthening UOB’s regional franchise. Khoo will support UOB Vietnam’s management team to chart and embed UOB’s retail banking strategy in the country, according to the bank.

UOB completed the acquisition of Citi's consumer banking businesses in Malaysia and Thailand in November 2022, Vietnam in March 2023, and Indonesia in November 2023.

With Citi’s consumer banking businesses fully integrated into UOB for Indonesia, Malaysia, and Thailand, Vietnam is also progressing well towards its completion in 2025.

UOB recorded a core operating profit of SGD11 million ($8.2 million) in Vietnam in 2023, down 36% year-on-year, according to a bank report. The figure is a fraction of UOB’s total figure of SGD8,154 million ( $6.07 billion) from its global performance last year.

In the first quarter of this year, the total income of UOB, including net interest income, net fee income, and other non-interest income, reached SGD3,523 million ($2.62 billion), up 3% year-on-year. The Vietnam figure was SGD26 million ($19.3 million), up 19%.