OCBC Bank has appointed Mr Melvyn Low, 51, Head of Global Transaction Banking, to its management committee effective 18 May 2018. Mr Low joined the bank in February 2018 as Head, Global Transaction Banking.

Mr Low brings with him more than 25 years of banking experience across sales and product management, transaction services, cash management, trade and securities and fund services.

18 of those years were spent at Citibank N.A. where Mr Low’s last role was as the Head of ASEAN and Singapore, Treasury and Trade Solutions, covering the financial institution’s transaction services business in eight countries.

One of the key highlights during his stint in the American bank was the launch of Citi’s Innovation Lab in Singapore – the bank’s first in Asia – for transaction services in 2012, for which he played an instrumental role.

Mr Low has channelled this expertise into building Singapore’s e-payments infrastructure.

He has been a director of the Singapore Clearing House Association since 2010 and was a key member of the committee behind the 2014 launch of FAST (Fast and Secured Transfers), an electronic funds transfer platform that allows customers to transfer SGD funds almost immediately between accounts of 20 participating banks in Singapore.

FAST is the foundation for electronic funds transfer service PayNow – an integral part of Singapore’s latest push toward a cashless society.

Being a career transaction banker, Mr Low is passionate about developing young talent and moulding the next generation of leaders in this field.

He engaged the National University of Singapore Business School to develop the world’s first full-credit course on transaction banking for undergraduates in 2012. This course goes beyond theory, providing students with practical insights and exposure to the industry.

For his contributions, Mr Low was named "Transaction Banker of the Year for ASEAN" by The Asset magazine in 2015.

In the same year, he was conferred the title of IBF Distinguished Fellow which recognises industry captains who have demonstrated outstanding leadership capabilities, professionalism, and who have contributed significantly to the industry.

Mr Low holds a Master of Business Administration from the University of British Columbia, Canada.

Said Mr. Samuel Tsien, Group CEO, OCBC Bank, “Melvyn brings with him a wealth of experience in transaction banking and innovation, and a solid track record of growing new capabilities and businesses across the region. In the past few months since joining us, Melvyn has assimilated well into the OCBC culture. He is also a valuable member of the Management Committee.

“Transaction banking plays a pivotal role in OCBC’s strategy. Increasing trade flows through Asia, coupled with a rising interest rate environment, present huge opportunities for trade finance and cash management. We therefore look forward to the fresh ideas and initiatives that Melvyn will bring to the team, entrenching our position as a dominant, digitally-driven transaction banking franchise in Asia.”

Said Mr Low, “Almost 30 years ago, I landed my first banking job – an internship at OCBC’s then technology department – so this is a homecoming for me. It is especially meaningful to be returning as a senior leader at a time that can be considered a watershed moment in banking, as the industry becomes increasingly intertwined with technology. I look forward to continuing my work with the management team and my colleagues as we chart new paths forward for the bank.”