DBS announced Wednesday (Aug 7) that the board has appointed Tan Su Shan as deputy CEO, in addition to her present role as group head of institutional banking.
She will succeed Piyush Gupta as CEO when he retires at the next annual general meeting on Mar 28, 2025.
Tan, 56, has more than 35 years of experience in consumer banking, wealth management and institutional banking.
Besides Singapore, she has worked in major financial centres such as Hong Kong, Tokyo and London.
DBS chairman Peter Seah said at a media briefing on Wednesday: “In 2021, Piyush said he wanted to retire when he turns 65. The board then decided that we really had to move the pace up and go through a selection process of who we should appoint to lead the team.”
Tan “stood out” among the many top names considered for the role, he added. “The board decision to appoint Su Shan was unanimous.”
Piyush said: “Even though I’ve been the face of DBS, in many ways, banking is a team sport.
“We will play tag team for the next few months, so that she gets every opportunity to try out and get comfortable with all the moving parts to run a bank.”
