SINGAPORE - The NTUC Income board of directors has appointed Ken Ng as chief executive, effective Oct 1. He will take over from Tan Suee Chieh who, as previously announced, will assume the role of group chief executive officer of NTUC Enterprise.
Mr Ng, 44, is currently the insurer's senior vice president and general manager of distribution, a position he has held since June 2012. Prior to that, he was general manager of Life Insurance while leading strategy development. He joined the insurer in 2007 as its senior vice president, chief actuary and chief risk officer.
Before joining NTUC Income, Ken Ng held various leadership positions in several global insurance companies. He was based in the United Kingdom, China, Hong Kong and Singapore at different times. He holds a Masters of Business Administration degree from Imperial College School of Management, UK, and is a fellow of the Institute of Actuaries, UK.
"The Board was unanimous in its selection of Ken after conducting an extensive search both internally and externally. Ken is a highly respected member of the management team, recognised by colleagues and industry peers alike for his deep strategic thinking and problem-solving abilities. Ken understands the organisation's core values and has played an integral role in shaping NTUC Income's transformation," said NTUC Income chairman Ng Kee Choe in a statement.
Mr Ng said in the same statement that he feels "greatly privileged" to have been appointed to lead the company.
"We have an exciting future ahead as we keep pace with the needs and aspirations of our customers," he said.