DBS APPOINTS SEASONED ASIA HAND TAN KONG KHOON AS
GROUP CONSUMER BANKING HEAD
Appointment represents homecoming for Tan, who has successfully built consumer banking franchises in the region
SINGAPORE, 6 September 2010 – DBS Group Holdings announced today that it has appointed veteran banker Tan Kong Khoon, 53, as Group Executive and Head of Consumer Banking. Tan joins DBS on 1 December 2010 from ANZ Bank, where he was most recently Head of Retail Banking and Wealth Management, Hong Kong and North East Asia.
At DBS, he will be a member of the Group Management Committee, reporting to Chief Executive Officer Piyush Gupta. A banker of 29 years, Tan, a Singapore citizen, began his banking career at DBS in Singapore in 1981. Since then, he has successfully built consumer banking franchises across multiple markets in Asia, including Singapore, Hong Kong and Thailand.
From March 2007 to December 2009, Tan was President and CEO of Bank of Ayudhya, the fifth-largest listed bank in Thailand. Under his leadership, Bank of Ayudhya rapidly expanded its business and profitability through organic growth and acquisitions. The bank today has about 580 branches in Thailand, and numerous subsidiaries offering credit cards, auto loans, factoring, stock brokerage services and fund management.
Prior to that, Tan spent over six years at Standard Chartered Bank. His last role with the bank was Regional Head, Consumer Banking for China and Hong Kong. During this time, he also had oversight of the consumer banking business of Bohai Bank in Tianjin, China, in which Standard Chartered has a stake.
DBS Group Holdings CEO Piyush Gupta said, “Kong Khoon is one of DBS' own, having started his banking career with us almost three decades ago. Given his strong experience in consumer banking in Asia, I am confident that he will work with the team to leverage DBS’ strong distribution network, broad suite of products and services, and wide customer base. I believe that he will be able to help us to deliver even greater value to our clients as DBS builds a strong Asia franchise.”
Consumer banking is a significant business for DBS, accounting for over 20% of Group revenues, in 2009. DBS is the only Asian bank with a footprint in the three key axes of growth - Southeast Asia, South Asia and Greater China. In Singapore and Hong Kong, its two biggest markets, DBS has 82 DBS/POSB branches and 50 branches, respectively. DBS also has 40 branches in Indonesia, 40 branches in Taiwan, and 16 branches and sub-branches in China. In India, DBS has the largest footprint of a Singapore bank, with 12 branches.
DBS - Living, Breathing Asia
DBS is one of the largest financial services groups in Asia with operations in 15 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.