OOIL has announced Ken Cambie has been appointed an executive director with the shipping company, effective from August 1, pending regulatory approvals.

Mr Cambie will assume the responsibilities of chief financial officer as of August 13. He is replacing Nicholas Sims who is retiring and has held these senior roles since 2000.

"During the past seven years, the group has further strengthened its balance sheet and successfully realised the value of its terminals division. While we at OOIL group regret to see Nick's retirement, we understand his personal wish to spend more time with his family in the UK," said CC Tung, chairman and CEO.

Mr Cambie joins OOIL following a 20-year career with Citigroup, most recently as a director of transportation, Asia Pacific corporate banking and has been based in Hong Kong for the last six years. Mr Cambie was responsible for meeting the banking and financing needs of a range of shipping, port, airline and airport companies throughout Asia, a company statement said.

Before moving to Hong Kong, Mr Cambie was the corporate banking head for Citibank New Zealand for seven years and had also spent several years with the bank in Australia in corporate banking and leveraged finance roles.