The board of directors of NIB Bank Ltd has elected Roland Teo Cheng San as new chairman of NIB effective August 1, this year. In its communiqué sent to KSE here on Monday, NIB said that Teo is a Singaporean national and banker by profession with 20 years working experience with Citigroup and Standard Chartered Bank. He will replace France Andrew Rozario who will be completing his six years tenure on July 31, 2011 and retiring from the board of directors of NIB.