SINGAPORE: The second most powerful Asian woman is Singapore’s own Helen Wong, the Group Chief Executive Officer of Oversea-Chinese Banking Corporation (OCBC).
This is no small feat, given that OCBC is the second-largest bank in Singapore.
Ms Wong took second place on this year’s Fortune Most Powerful Women Asia (MPW Asia) list, which ranks women business leaders across the Asia Pacific region.
It acknowledges 100 women who are “redefining the concept of leadership by transforming companies, disrupting industries and driving growth, innovation and business excellence” while at the same time inspiring others.
The women are from a diverse range of industries, from finance to energy, transportation, food and beverages, and hospitality.
Among women from China, India, Japan, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, and Australia, more than half are CEOs, 26 are Chairpersons, and 11 are Chief Financial Officers.
Notably, over ten per cent of the ladies on the list are entrepreneurs who started the businesses they are leading today.
Singapore produced nine women on the list, which is arguably a big deal for such a small country.
First on the list is Ms Wong, the first woman to run a Singaporean bank.
She traces the beginnings of her career to being a management trainee at OCBC in 1984 and later became the bank’s China Desk Manager, which meant she spent some time at OCBC’s Hong Kong branch.
In between her trainee years and becoming group CEO on April 15, 2021, Ms Wong worked at HSBC for 27 years, distinguished by a stint as the CEO of Greater China for the bank.
“OCBC is thriving under Wong, thanks in part to the massive flows of wealth into Singapore, and in 2023, reported a record net profit of $5.2 billion,” Fortune noted.
Aside from being Group CEO, Ms Wong has been the bank’s Executive Director since Feb 7, 2023.
She also serves as Chairman of OCBC China, a Board Commissioner of OCBC Indonesia, and a Director of Bank of Singapore, Great Eastern Holdings, OCBC Malaysia, OCBC Hong Kong, and the Dr Goh Keng Swee Scholarship Fund.
Additionally, she is a member of the Monetary Authority of Singapore (MAS) Financial Centre Advisory Panel, MAS Payments Council, and MAS Financial Sector Tripartite Committee.
This year’s number one on the Fortune Most Powerful Women Asia list is China’s Grace Wang, the Chairwoman and CEO of Luxshare Precision Industry, based in Shenzhen.
“Luxshare, a leading maker of AirPods, Apple Watches, Vision Pros, and iPhones, challenging Foxconn’s dominance. Debuting on the Fortune Global 500 list in 2023, this year Luxshare is No. 488 with revenue of $32.8 billion,” noted Fortune. /TISG