Octopus names new CEO as Angus Lee steps down

The Board of Octopus Holdings has appointed Tim Ying (pictured left) as the new chief executive officer of the Octopus group, succeeding Angus Lee (pictured right). Ying will join Octopus on 1 August and assume the role of CEO on 1 October.

Meanwhile, Lee will support Ying in his transition before returning to MTR Corporation to take up another management position. 

Ying is an experienced executive in the digital payment space with over 20 years of experience in the banking and payments industries, according to the release. Prior to joining Octopus, he was general manager of digital experience at Cathay Pacific Airways. Ying also worked in a few management positions in HSBC, and his last position in HSBC was chief product officer of digital wallet, PayMe.

Commenting on the appointment, Jeny Yeung, non-executive chairperson of OHL, said: “With the growth of digital payments and customers increasingly driven by value and convenience, Octopus is investing to strengthen its online and digital capabilities to harness these new opportunities. With Ying’s extensive experience in digital payments and user experience design, the Board is confident that he will effectively lead the team to transform Octopus from a transactional platform to becoming the most preferred digital channel for payments and customer engagement in the near future."

Yeung also thanked Lee for his remarkable efforts and significant achievements during his four-year tenure at Octopus. “Under Lee’s leadership, Octopus usage has reached record highs, while Mobile Octopus has also achieved high penetration and admirable success. He was instrumental in the development and launch of a number of innovative projects including the Easy Earn loyalty scheme and the Easy Park free-flow car park solution. The Board of the Octopus Group expresses appreciation for his dedication and wishes him very best in his next endeavour."

Ying remarked, “Octopus is the most well-known, home-grown payment solution in Hong Kong and is part of our everyday lives. I am honoured that I have the opportunity to contribute to Octopus’ continued success. With the context that Hong Kong is moving to a cashless society, I am excited to be able to leverage my experience in the digital payment sector to further the company’s mission of making everyday life easier through innovative payment solutions.”

MARKETING-INTERACTIVE has reached out to Octopus for more information. 

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