Indian origin top Piyush Gupta, a Singapore banker, is expected to stand down as CEO of the DBS Group in March 2025

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Indian origin top Piyush Gupta, a Singapore banker, is expected to stand down as CEO of the DBS Group in March 2025. He will be succeeded by Tan Su Shan, who was appointed Deputy CEO yesterday and is also Group Head, Institutional Banking at DBS.

First Ever Female CEO

Gupta is expected to retire at DBS's next Annual General Meeting on March 28, 2025, according to the bank. Her first experience with DBS was as a university student. She will become the banking group's first female CEO. She formerly worked at Morgan Stanley and Citigroup. Tan was also a nominated MP in Singapore from 2012 to 2014.

The Four Cs Of DBS Bank

During a media event, the incoming CEO-designate acknowledged that Piyush had huge shoes to fill in the transition from August 2024 to March 2025. But, guess what? Our shoes are unusual. We use different types of shoes, therefore our styles may differ, but some things will remain consistent in the future." The four Cs of DBS Bank--culture, customers, collaboration, and continuity--would continue, she stated.

First "Homegrown" Person To Succeed DBS's Outgoing CEO

At the media briefing, DBS board Chairman Peter Seah stated that Tan was the first "homegrown" person to follow DBS's outgoing CEO. “She gets along very well with the rest of the team, and when the team members were informed of (the board’s) decision, it was well received,” said Seah.

About Tan Su Shan

A 56-year-old Singaporean and Oxford University graduate. She brings 35 years of expertise in consumer banking, wealth management, and institutional banking. Tan started her work at ING Baring Securities selling institutional equity and derivatives. She began her career as an executive director at Morgan Stanley (MS.N) in 1997 before becoming Citigroup's (C.N) regional head for Brunei, Malaysia, and Singapore in 2005. In 2008, she returned to Morgan Stanley as the head of private wealth management in Southeast Asia. Tan joined DBS in 2010 and spent the first three years developing the bank's wealth management business.

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