Ms Elaine Heng is the Head of Group Strategy, Innovation and Sustainability for OCBC, a new division created in April 2024 to solidify the Bank's strategic focus and generate growth into the future. Elaine leads the charge in holistically realising and maximising the potential new business growth engines, emerging trends, in addition to sustainability. Her responsibilities include future proofing the business, maximising new growth engines and emerging trends, and bringing to fruition cutting edge business deals and models across the Group.
Prior to joining OCBC in April 2024, Elaine Heng was both Chief Executive Officer for Retail Business and Deputy Group Chief Executive Officer at FairPrice Group (FPG). FPG comprised of NTUC FairPrice, NTUC Foodfare, Kopitiam, and NTUC Link. With a vision of being a leader in everything food, FPG's social mission is to moderate the cost of living. FPG has a footprint of close to 570 touchpoints, employs over 14,000 staff and has an annual turnover of $4.5 billion. In her role as CEO of Retail Business, Elaine 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 across the banners. Adopting customer-centricity, operational excellence and data driven performance in rethinking retail, she has been instrumental in transforming FairPrice's business model and ensuring its pole position in the industry.
In addition, Elaine led the milestone project on behalf of FPG and NTUC Enterprise to launch digital banking (Trust Bank, a joint venture with Standard Chartered Bank) into the suite of offerings for the group. For her contributions to the industry over the last few years, Elaine was named CEO of the Year (Asia Pacific) 2023 by Retail Asia and Retail Leader of the Year 2023 by The Singapore Retailers Association.
Elaine spent close to 20 years in banking before joining FairPrice Group, of which 15 years were at Standard Chartered Bank. She worked closely with the Group CEO in London in managing the business across 70 countries during the global financial crisis. Elaine has in-depth banking knowledge and experiences gained from managing different client segments and businesses spanning across consumer & International banking, SME banking, digital banking, strategy and talent management in the region.
Elain is married with two children.
