DBS CEO Piyush Gupta To Exit; Tan Su Shan To Take Charge

DBS chief executive Piyush Gupta will step down from his position, Singapore's largest bank said in a bourse filing on August 7.

He will be succeeded by Tan Su Shan, who was appointed on the same day as deputy CEO, in addition to her current 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, the bank said.

"I am really deeply honoured and humbled by this ... very grateful for this big opportunity. I'm also very mindful that this is a huge responsibility," said Shan.

Her first internship as a university student was also at DBS. When she rejoined the bank, it felt like a homecoming, she said.

Shan has been DBS' group head of institutional banking since 2019. The 56-year-old has been credited with expanding DBS’ consumer banking and wealth management business, which she led after joining the bank in 2010. She had previously worked at Morgan Stanley and Citi.

Outside of DBS, Shan served as a Nominated Member of Parliament from 2012 to 2014. She also sits on the advisory board of Dyson’s family office, Weybourne Holdings.

Shan will be the first female chief executive in the history of DBS.

Between now and March next year, Shan and Gupta will work together to plan for the future and give Ms Tan exposure to more parts of the business.

"Everybody has told me Piyush has very big shoes to fill, and of course he does," she said, adding that she was grateful for his mentorship over the years.

"But guess what? Our shoes are different. We wear different kinds of shoes, so our styles may be different, but some things will not change going forward," she mentioned, highlighting four Cs that matter to the bank - culture, customers, collaboration and continuity.