UOB has announced key leadership changes across its mainland China and Hong Kong operations to accelerate cross-border growth between China and ASEAN.

Adaline Zheng, the current CEO of the UOB Hong Kong branch, will be appointed as the new CEO of UOB China.

She replaces Peter Foo, who is retiring after 15 years with the bank.

George Tung, the current Country Manager in South Korea, will succeed Zheng as the CEO of the UOB Hong Kong branch. Both appointments will take effect on 1 July 2026.

“China is a key driver of trade, investment and cross-border flows with ASEAN,”

said Wee Ee Cheong, Deputy Chairman and CEO at UOB.

Wee added that the bank is sharpening its role in Hong Kong as a connector between mainland China and ASEAN while strengthening its private banking capabilities.

Executive backgrounds

Zheng has more than 20 years of banking experience across mainland China and Hong Kong.

She joined UOB China in 2018 as Head of Wholesale Banking. She later became CEO of the Hong Kong branch in March 2024.

In her new role, Zheng will oversee business operations in mainland China and expand cross-border capabilities to support regional expansion.

Tung brings more than three decades of experience in the banking sector. He joined UOB in 2010 and led the wholesale banking business in Hong Kong for a decade.

In 2021, Tung took on the role of Country Manager in South Korea. In this role, he focused on expanding market connectivity with ASEAN.

As the new CEO of the Hong Kong branch, Tung will focus on driving wholesale and private banking growth.

The branch, which opened in 1965 as UOB Hong Kong Branch’s first overseas branch, will also see him managing regulatory engagement.

Featured image credit: Edited by Fintech News Hong Kong, based on image by alexgolovinphotography via Magnific