OCBC has announced that Carina Lee will become the new Group Chief Risk Officer and a member of the Management Committee, effective January 1, 2026. She will succeed Noel Gerald DCruz, who is retiring on December 31, 2025, after 36 years with the bank.
Noel Gerald DCruz joined OCBC in 1989 and became Group Chief Risk Officer in January 2023. During his tenure, he led efforts to strengthen risk management teams and diversify the bank’s portfolio. These actions contributed to a reduction in the non-performing ratio to about 1%, which is its lowest level in several years. He also improved risk management related to liquidity, interest rates, and foreign exchange. In addition, he initiated programs to improve oversight of non-financial risks such as operational resilience, cyber security, third-party risk management, AI governance, and data loss.
Before serving as Group Chief Risk Officer, Mr DCruz was Head of Risk Portfolio Management at OCBC. In this role, he introduced data-driven approaches for credit portfolio risk quantification and emerging risk identification. These methods are now used throughout OCBC’s credit processes and in assessing capital adequacy and allowances. He also played a key role in setting up a group-wide data management framework.
Helen Wong, Group Chief Executive Officer of OCBC, expressed her appreciation for Mr DCruz’s contributions: “I would like to extend my gratitude to Noel for his invaluable contributions to OCBC. His pivotal role in establishing a robust risk management foundation has been instrumental in the growth and stability of our businesses. Noel’s generous sharing of wisdom and experience has profoundly inspired colleagues on both the professional and personal levels. He will leave behind a lasting and meaningful impact on all of us fortunate enough to work alongside him, myself included. I wish Noel a joyful, fulfilling and healthy retirement.”
Carina Lee has more than 28 years of experience in banking across business and risk management functions covering both financial and non-financial risks. Since joining OCBC in January 2021 as Group Chief Credit Officer for wholesale banking loans—including those for SMEs, large corporates, financial institutions, sovereigns, and counterparties—she has chaired the Group Credit Risk Management Committee reporting to the Board Risk Management Committee.
Lee has led initiatives aimed at improving credit policies and systems while expanding the wholesale banking loan portfolio into high-growth sectors like Technology, Media & Telecommunications. She also supported growth within OCBC’s SME franchise across core markets. From June 2021 through June 2025 she served as director on the board of OCBC China.
Before joining OCBC Bank she spent over twenty years at another global bank where she held senior roles across business operations and risk functions—including operational risk management as well as credit policy development for wholesale banking—and previously served as deputy head for local corporates plus head of China Desk during her time in Singapore.
Commenting on Ms Lee’s appointment Helen Wong said: “Carina’s appointment testifies to our deep bench strength. She is highly regarded as a strong leader who brings a well-calibrated approach to risk and reward. Given the increased volatility and uncertainty in the operating environment we face today, the ability to manage risks effectively is more critical than ever. Carina’s extensive experience and leadership qualities will make her an important addition to our management team.”