DBS Bank has named Calvin Ong, 42, as its new head of consumer banking for Singapore. He succeeds Jeremy Soo, who retires from executive duties at the end of the year. 

Currently head of investment products and advisory in DBS' consumer banking and wealth management group, Ong has been with the bank for 17 years. He started off as a management associate.

Since joining the Singapore lender in 2007, Ong has held several roles across the bank, including in private equity, group planning, treasury and markets, and corporate treasury. 

In his present role, Ong has been credited for growing investment fee income across the wealth continuum, amid market volatility.

In a statement to the media on Sept 6, DBS said that Ong "was a key member of the management team responsible for the transformation of DBS' balance sheet management, capital and funding, and structured corporate transactions. He rose through the ranks to become Deputy Corporate Treasurer".

It added that Soo, who is credited for implementing the bank’s Managing Through Journeys initiative, will remain in an advisory role.

Ong will start his new position on Jan 1, 2025.

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