Far East National Bank Lands Top DBS Group Executive; Charles Ong Big Boost to FENB's Pacific Rim Expansion

Business Wire, Feb 15, 2005

LOS ANGELES -- Far East National Bank announced today that Charles Ong has joined the Los Angeles-based financial institution as Executive Vice President and corporate banking group head. Mr. Ong, formerly managing director and U.S. country head for Development Bank of Singapore (DBS), will join Far East National Bank after 16 years with DBS. Mr. Ong, who will remain based in Los Angeles, was credited with building DBS' U.S. wholesale business and ramping up the institution's Pacific Rim and Asian-linked middle-market position.

"Charles is a leading banker for mid-sized and small companies with investment and trade interests in Asia," said Robert Sweeney, President of Far East National Bank. "He will be a remarkable addition to Far East National Bank's expansion in the Pacific Rim and a first-rate asset to our corporate banking franchise in the U.S.

"Charles has enjoyed a flourishing career at DBS, with notable accomplishments in both the commercial and international banking sectors. He brings with him first rate knowledge of the Pacific Rim and a network of contacts in both U.S. and Asia," Sweeney added.

Prior to his position with DBS in Los Angeles, Mr. Ong was a top executive in the bank's Pacific Rim divisions, including heading corporate banking teams in Singapore servicing both mid-sized and large corporate clients. During the 1990s, Ong served as General Manager of DBS Korea.

"I am very enthusiastic about joining Far East National Bank and Rob Sweeney's team," said Mr. Ong. "Far East National can offer very personal service plus global sophistication that few banks our size can deliver, including exceptional links across Asia and highly-coveted branch licenses in China and Vietnam."

A Malaysian citizen, Mr. Ong was educated in Singapore and received First Class Honors with a Bachelor of Engineering from the National University of Singapore. A natural linguist, Mr. Ong speaks several languages including Chinese (Cantonese and Mandarin), English, Fukienese and Malay.

Headquartered in Los Angeles, Far East National Bank has 15 offices throughout California, a strategic alliance with Shanghai-based First Sino Bank, a representative office in Beijing and a Vietnam branch. The bank's customers have access to a CrossPacific service network through its parent, SinoPac Holdings, a fully integrated financial institution with more than $19 billion in assets and 140 locations worldwide.

Editor's Note: Photograph of Charles Ong is available upon request.