Hong Leong Bank, the Malaysian lender, has named a former DBS Group executive as its new chief executive effective 1 July 2013.

Tan Kong Khoon is the new CEO and group managing director at HLB, replacing Yvonne Chia who announced her resignation in March after 10 years with the company. Tan started his career at the Singaporean bank in 1981 before moving to the likes of Standard Chartered and ANZ Bank in Singapore, Thailand and Hong Kong. He rejoined DBS in 2010 as group executive for consumer banking.

In its latest earnings statement, Hong Leong Bank said that it expects Malaysia's gross domestic product to continue rising in the next year, driven mainly by strong domestic demand, private consumption and private investments. The bank records MYR157.8 billion ($49.7 billion) in total assets as of 31 March 2013.