DBS is Tan Su Shan In addition to her role as group head of institutional banking, she also serves as deputy CEO.
She will succeed Piyush Gupta as CEO after he steps down at the next annual general meeting on March 28, 2025, and will be the first woman CEO in the bank’s history.
Mr Tan, 56, has more than 35 years of experience in consumer banking, wealth management and institutional banking.
Her career has spanned major financial centres including Hong Kong, Tokyo and London.
Since joining the company DBS In 2010, Tan was instrumental in building the wealth management business, managing both consumer banking/wealth management and institutional banking, which accounted for 90% of DBS’s revenue.
She also leads the bank’s digitalisation strategy and has served as president of DBS Indonesia since 2014.
Tan’s vast experience does not end with DBS: she began her career in institutional equities and derivatives sales at ING Barings Securities before moving to Citi in 2005 as regional head of Singapore, Malaysia and Brunei.
Mr. Tan worked at Morgan Stanley from 1997 to 2005 and again from 2008 to 2010, first as an executive officer and then as head of the Private Wealth Management division.
Outside of DBS, she was an appointed Member of Parliament from 2012 to 2014, serving on several committees in the areas of government, education and women’s leadership.
She also sits on the advisory board of Waybourne Holdings, Mr Dyson’s family office.
A graduate of Oxford University with a master’s degree in politics, philosophy and economics, Tan’s first internship as an undergraduate was with DBS.
The appointment follows a 10-year succession selection process, in which internal candidates underwent an extensive development program and were compared with potential external candidates.
Tan emerged as the leading candidate.
Gupta said:
“Sue Shan has worked closely with me for over a decade to lead the bank to where it is today. Since joining the bank, she has been instrumental in building our wealth management, consumer banking and institutional banking businesses and has personally led the execution of our digitalisation strategy. Her appointment ensures that DBS’ transformation trajectory will continue into the future.”
Tan added:
“A few months after Piyush took over as CEO, he called me and persuaded me to join DBS. I accepted the call and left my job at a foreign bank the next day. Joining DBS felt like coming home – this is the bank I grew up with and where I did my first internship.”
“The past 14 years have been an incredible journey. I am proud to have been part of DBS’ founding mission of funding Singapore’s growth and will continue to strive to ensure that the brand remains a highly regarded name in Asia and around the world.”
