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  DBS APPOINTS PIYUSH GUPTA AS CEO

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27-year veteran banker is seasoned Asia hand with broad-based experience

SINGAPORE, 1 September 2009 – DBS Group Holdings announced today that it has appointed veteran banker Piyush Gupta, 49, as Chief Executive Officer (CEO). A Singapore permanent resident, Gupta spent over two-thirds of his 27-year career in South East Asia and Hong Kong, including eight years in Singapore. His appointment is subject to regulatory approval, and he will join the bank in November.

Gupta is currently Citi’s CEO for South East Asia-Pacific, covering Asean (Singapore, Malaysia, Philippines, Indonesia, Thailand, Vietnam and Brunei), Australia, New Zealand and Guam. In this role, his responsibilities encompass all of Citi’s businesses including Financial Markets, Corporate and Investment Banking, Transaction Services, Credit Cards, Retail Banking and Wealth Management. 

DBS said Gupta’s broad-based banking experience, spanning frontline and support functions, positions him well to grow DBS’ franchise. Gupta has successfully managed businesses in good and challenging times, and is a seasoned Asia hand, having previously held leadership positions as country manager of Citi in Singapore, Indonesia and Malaysia. He is also known for being a well-rounded leader, who is equally comfortable with high-level strategy and hands-on operating details. 

Gupta has also served on numerous committees. These include the Indonesian Government’s Debt Restructuring Committee, Foreign Banks’ Association in Indonesia and the Boards of AMCHAM Malaysia and Singapore. He is a past Chairman of the Financial Services Committee of the US-ASEAN Business Council, and currently serves on the Group of Experts to the ASEAN Capital Markets Forum.  

In addition, Gupta takes a keen interest in the area of education. He currently serves on the Board of the Sim Kee Boon Institute for Financial Economics (Singapore Management University), and is a member of the Financial Sector Development Fund Advisory Committee. He has also served on the Primary Education Review and Implementation Committee, advising the Singapore Government on revamping primary education in the country. 

Said DBS Chairman Koh Boon Hwee: “My fellow directors and I are delighted that Piyush will be joining the bank. He is a versatile and experienced banker who has spent the last 20 years in South East Asia and Hong Kong, including eight years in Singapore. Piyush is strategic, yet detail oriented; and has the ability to nurture high-performing teams. We are confident that he will help to strengthen our franchise and grow our footprint in Asia.”   

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About DBS
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region.

As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expanding its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.

DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.

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