UOB Appoints New CEOs for China and Hong Kong
United Overseas Bank (UOB) has announced a series of senior leadership changes in its China and Hong Kong operations, underscoring the bank’s commitment to strengthening cross-border business flows between China and Southeast Asia.
The bank said that Adaline Zheng (picture below), currently Chief Executive Officer of UOB Hong Kong Branch, will become CEO of UOB China effective July 1, succeeding Peter Foo, who is retiring after 15 years with the bank. George Tung, UOB’s Country Manager for South Korea, will take over as CEO of the Hong Kong Branch on the same date.
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The appointments come as UOB seeks to deepen its role in facilitating trade, investment and financial connectivity between China and ASEAN markets.
«China is a key driver of trade, investment and cross-border flows with ASEAN,» said Wee Ee Cheong, Deputy Chairman and Chief Executive Officer of UOB. «As the most connected bank in ASEAN, our deep local expertise and leading cross-border capabilities position us well to build the next phase of business momentum and growth.»
Wee said the bank would continue enhancing its capabilities to support customers’ growing cross-border needs as economic ties between China and ASEAN strengthen. In Hong Kong, UOB plans to further develop its role as a bridge between mainland China and Southeast Asia while expanding its private banking and wealth management offerings.
Two Decades of Banking Experience
Zheng brings more than two decades of banking experience across mainland China and Hong Kong. She joined UOB China in 2018 as Head of Wholesale Banking and was appointed CEO of the Hong Kong Branch in March 2024. In her new role, she will oversee UOB’s mainland China business and lead efforts to expand the bank’s cross-border capabilities and support clients pursuing regional growth opportunities.
Headquartered in Shanghai, UOB China operates across key economic regions in mainland China and provides wholesale banking and global markets services. The subsidiary plays a key role in facilitating trade and investment flows between China and ASEAN through UOB’s regional network.
Meanwhile, Tung will return to Hong Kong after serving as Country Manager of UOB South Korea since 2021. During his tenure in South Korea, he focused on building strategic partnerships and enhancing business connectivity between Korean institutions and ASEAN markets.
A UOB veteran since 2010, Tung previously spent a decade leading the Hong Kong Branch’s Wholesale Banking business, overseeing client coverage, investment banking, transaction banking and portfolio management.
As CEO of UOB Hong Kong Branch, Tung will be responsible for driving business growth, strengthening client relationships and expanding the bank’s wholesale and private banking businesses. He will also lead engagement with regulators and reinforce Hong Kong’s role as a strategic hub linking mainland China and ASEAN.
The Hong Kong Branch, established in 1965, was UOB’s first overseas branch and remains a key part of the bank’s regional network.
