Malaysian Hong Leong Group Snaps up DBS Wealth Executive

Domenic Fuda, New Group Managing Director and CEO

Domenic Fuda, New Group Managing Director and CEO

Hong Leong Financial Group and Hong Leong Bank have announced new executive leadership appointments.

Tan Kong Khoon has been named as President and CEO of Hong Leong Financial Group (HLBB), according to a press release sent on Monday. He succeeds Raymond  Choong who has assumed the position of President and CEO of Guoco Land Limited (GLL) in Singapore, a company within the Hong Leong Group.

Tan was previously the Group Managing Director and CEO of HLBB. Since joining the company in 2013, he has spearheaded major strategy and technology shifts across the bank, most notably the Bank’s move into the digital space.

Former DBS Leader

Meanwhile, HLBB announced the appointment of Domenic Fuda as the Group Managing Director and CEO to replace Tan. Fuda, beginning work on 5 February, brings with him a wealth of experience having spent the past 25 years in a variety of banking roles in Asia and Australia. Prior to joining HLBB, he served as Deputy Group Head of Consumer Banking & Wealth Management at DBS Bank and was a member of the DBS Group Management Committee, where he was responsible for driving business growth and digitization of the business across its 6 regional markets.

Fuda was also on the Boards of AXS (Singapore), DBS Compass Limited (Hong Kong) and NETS (Singapore). Prior to joining DBS Bank he spent 16 years at Citigroup covering various senior roles.

Pan Asian Expansion

Hong Leong Bank has also been extending its footprint in the region, with branches in Singapore, Hong Kong and wholly owned subsidiaries in Vietnam and Cambodia. In China, the Bank has a 20 percent shareholding in Bank of Chengdu and a consumer finance joint venture.

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