NEW DELHI: Singapore‘s largest financial institution DBS in a regulatory submitting on Wednesday disclosed that its CEO Piyush Gupta will step down in March 2025 and Tan Su Shan will succeed him. Shan is presently serving because the group head of institutional banking. Tan has additionally been appointed because the deputy CEO with rapid impact.
Gupta, who grew to become the CEO in 2009 after working 27 years at Citigroup, was awarded the Public Service Star by Singapore’s President in 2020.
The financial institution was acknowledged for its technological developments throughout his tenure and was named the “World’s Greatest Financial institution” by a number of publications, together with Euromoney and World Finance.
In 2019, the Harvard Enterprise Evaluate additionally included DBS in its record of the highest 10 most transformative organizations of the last decade.
Gupta will step down on the subsequent annual normal assembly on Mar 28, 2025. Because of a 30 % discount in his variable pay, amounting to SGD 4.14 million (USD 3.12 million), his complete compensation decreased from SGD 15.4 million in 2022 to SGD 11.2 million final 12 months.
In February, Gupta acknowledged that the financial institution’s senior administration staff was taking accountability for service disruptions by accepting pay cuts, as DBS had skilled a number of service disruptions, together with a major one in October 2023.
Tan Su Shan, aged 56, brings greater than 35 years of expertise in numerous banking sectors, together with shopper banking, wealth administration, and institutional banking. She has labored in main monetary facilities akin to Singapore, Hong Kong, Tokyo, and London all through her profession.
Gupta, who grew to become the CEO in 2009 after working 27 years at Citigroup, was awarded the Public Service Star by Singapore’s President in 2020.
The financial institution was acknowledged for its technological developments throughout his tenure and was named the “World’s Greatest Financial institution” by a number of publications, together with Euromoney and World Finance.
In 2019, the Harvard Enterprise Evaluate additionally included DBS in its record of the highest 10 most transformative organizations of the last decade.
Gupta will step down on the subsequent annual normal assembly on Mar 28, 2025. Because of a 30 % discount in his variable pay, amounting to SGD 4.14 million (USD 3.12 million), his complete compensation decreased from SGD 15.4 million in 2022 to SGD 11.2 million final 12 months.
In February, Gupta acknowledged that the financial institution’s senior administration staff was taking accountability for service disruptions by accepting pay cuts, as DBS had skilled a number of service disruptions, together with a major one in October 2023.
Tan Su Shan, aged 56, brings greater than 35 years of expertise in numerous banking sectors, together with shopper banking, wealth administration, and institutional banking. She has labored in main monetary facilities akin to Singapore, Hong Kong, Tokyo, and London all through her profession.
