today unveiled leadership changes in UOB China Limited (UOB China) and UOB Hong Kong Branch.
Adaline Zheng (main picture), who has been CEO of UOB Hong Kong Branch, will be appointed as the new chief executive of UOB China, taking the helm from Peter Foo, who is retiring after 15 years with the bank.
George Tung (pictured below), the lender’s country manager in South Korea, will take over from Zheng as the CEO of UOB Hong Kong Branch. Both appointments will take effect from 1 July, the Singapore-headquartered bank said in a statement.
George Tung
“As the China-ASEAN economic linkages grow, we will continuously enhance capabilities to better support our customers’ cross-border needs while further deepening client long-term relationships,” Wee Ee Cheong, deputy chairman and CEO of UOB said. “In Hong Kong, we are sharpening our role as a connector and value adder between mainland China and ASEAN, while strengthening our private banking and product capabilities to serve customers’ evolving wealth and investment needs. Adaline and George are both home-grown UOB leaders with deep regional experience. They are well placed to lead our local franchise into its next phase of growth.”
Zheng has more than 20 years of banking experience across mainland China and Hong Kong SAR. She joined UOB China in 2018 as head of wholesale banking, overseeing corporate banking, commercial banking, financial institutions, structured trade and commodity finance, transaction banking and investment banking. In March 2024, she was appointed CEO of UOB Hong Kong Branch.
Tung has more than three decades of experience in the banking sector spanning mainland China, Hong Kong, South Korea and ASEAN markets. He joined UOB in 2010 and led the Hong Kong branch’s wholesale banking business for a decade. In 2021, he was appointed country manager of UOB South Korea. Prior to joining UOB, he held senior positions in international banks covering the Greater China market.
Headquartered in Shanghai, UOB China is a wholly owned subsidiary of UOB; it was incorporated in the People’s Republic of China in 2007.