DBS has appointed Tan Su Shan, who currently serves as group head of institutional banking, has been selected as deputy CEO by the board.
In addition, when Piyush Gupta departs as CEO at the upcoming annual general meeting on 28 March 2025, she will move from deputy to the DBS CEO role.
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With over 35 years of expertise in institutional banking, wealth management, and consumer banking, Shan has a strong background for her latest position. She has worked in major financial hubs like Hong Kong, Tokyo, and London in addition to Singapore.
Shan began working at DBS in 2010 and dedicated her first three years to laying the groundwork for the company’s Wealth Management division.
She then spent nearly equal amounts of time managing the consumer banking/wealth management and institutional banking divisions, which account for 90% of DBS’ revenue.
Shan oversaw the daily initiatives to operationalise the bank’s digitalisation plan throughout the divisions under her management. Since 2014, she has served as DBS Indonesia’s president commissioner.
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By GlobalDataMoreover, Tan has held positions on boards related to women’s leadership, education, and governance outside of DBS. From 2012 to 2014, she was a candidate for membership in the parliament. After graduating from Oxford University, she participated in leadership programmes at Stanford and Harvard Universities.
DBS Chairman Peter Seah stated: “Under Piyush’s leadership, DBS has been transformed into a high-performing, high-returns institution recognised simultaneously for stability and innovation. Su Shan’s strategic orientation, track record in building businesses, familiarity with technology, leadership ability as well as strong stakeholder management and communication skills make her the ideal successor. Importantly for us, she also embodies the DBS culture. I am pleased that a Singaporean with global experience has emerged as the best candidate to lead an iconic Singapore institution and build on the legacy that Piyush will leave us.”
Gupta shared: “Su Shan has worked closely with me for more than a decade to bring the bank to where it is today. She was instrumental in building the Wealth Management, Consumer Banking, and Institutional Banking businesses since she joined, and took personal ownership to operationalise our digitalisation strategy. With her appointment, we can be assured that the trajectory of DBS’ transformation will continue well into the future.”
Tan added: “I am deeply honoured to have been selected to succeed Piyush. Leading the continued transformation of DBS is a tremendous privilege and responsibility. Some months after Piyush joined as CEO, he called to persuade me to join DBS. I responded to that call and quit the foreign bank I was working at the next day. Joining DBS felt like a homecoming – it is the bank I grew up with, and also the company where I first interned. The last 14 years have been a tremendous ride. I am proud of the founding mission of DBS – financing Singapore’s growth – and will continue to ensure that it is a brand that stands tall not just in Asia but also the world stage.”
