Charting the course

Ms Elaine Heng

Global Commercial Banking



Ms Elaine Heng was appointed Head of Global Commercial Banking on 1 October 2025, where she has global responsibility for the Bank’s commercial banking business, serving start-ups, SMEs and mid-cap corporates. Ms Heng joined OCBC in April 2024 and was formerly the Group Chief Strategy and Transformation Officer, overseeing Group Strategy, Group Transformation, Group Innovation, Group Data, Group Customer Experience, Group Operational Excellence and Group Sustainability. She was pivotal in driving the Group’s long-term strategic roadmap, focused on future-proofing the Group’s businesses and identifying new growth engines. Ms Heng led the strategic review of envisioning the future of banking, setting the Group’s change ambition and defining key strategic pillars.

Prior to joining OCBC, Ms Heng was Chief Executive Officer for Retail Business and Deputy Group Chief Executive Officer at FairPrice Group (FPG). In her role as CEO of Retail Business, Ms Heng was responsible for the overall strategy, products procurement, operations and management of the Co-operative’s business comprising FairPrice supermarkets, hypermarkets, online, pharmacies and convenience stores.

Ms Heng also spent close to 20 years in banking, 15 of which were at Standard Chartered Bank. She worked closely with the Group CEO in London in managing the business during the global financial crisis. She has in-depth banking knowledge and experiences gained from driving consumer banking, SME banking and digital banking, and managing strategic planning and talent management.

She is a graduate with a Bachelor of Business Administration from the National University of Singapore.