OCBC Bank announced the appointment of Mr. Noel Gerald DCruz as Group Chief Risk Officer to succeed Mr. Vincent Choo who will stay on as an adviser. Mr. DCruz, a OCBC veteran who has been with the bank for 33 years, will assume his expanded role from 1 January 2023. Mr. DCruz currently heads both the Group Risk Portfolio Management department as well as the Group Data Management Office.

He has been closely involved in the reorganization of the Bank's credit risk management structure, the set-up of the Credit Risk Management Committee and various specialized risk management units. He has also been covering for Mr. Choo in his absence as the Acting Chief Risk Officer over the years. With the appointment, Mr. DCruz will be made a member of the Management Committee and the Management Executive Committee.

Mr. DCruz joined OCBC Bank in 1989 after a stint in the Monetary Authority of Singapore. Since 2017 he also established the Group Data Management Office to drive implementation of a Group-wide data governance and management framework. Mr. Choo joined OCBC Bank in 2014 as Group Chief Risk Officer, bringing with him a wealth of experience and knowledge in the banking industry.

He immediately steered the Bank through the plunge in oil prices from 2014 to 2016. During the Covid-19 pandemic, Mr. Choo steadily led the Bank's transition to hybrid work arrangements through strong operational risk controls as well as safeguarded its asset quality with robust risk monitoring and active customer engagement.