As Chairman of DBS Bank (China), Paredes will continue to drive DBS’ growth in China. He will also leverage his extensive experience to bolster the bank’s position as a leading regional bank.
Piyush Gupta, Chief Executive Officer of DBS, said “As an Asia-centric bank, a key plank of our strategy has been to cement our presence in Singapore and Hong Kong – our two biggest markets – as well as be more deeply embedded in one or more of the large Asian economies. This includes China, a key market for us. In recent years, we have grown our support of the large state-owned enterprises in China, expanded our network of SME clients in the Greater Bay Area, and made inroads into the consumer finance space through ecosystem partners. Under Sebastian’s leadership, I am confident that DBS China will continue to leverage the Group’s strong regional network, client relationships and focus on digital innovation, to deliver continued customer value.”
Paredes joined DBS Bank (Hong Kong) as CEO in 2010 and has proven track records of achieving results through driving financial performances, building out businesses and networks in China and transforming the bank through technology and innovation.
Under his leadership, Paredes more closely integrated the Group’s Hong Kong and mainland franchises and successfully positioned Hong Kong as the gateway to Mainland China. In 2021, he played a strategic role in DBS’ acquisition of 13% stake in Shenzhen Rural Commercial Bank to become the largest shareholder, increasing the bank’s exposure in China. He strengthened DBS’s Wealth Management Connect (WMC) through multiple-partnership strategy to provide qualified Greater Bay Area (GBA) mainland investors with access to customised diversified investment products, services and digital banking capabilities. DBS is the first bank in Hong Kong with three Southbound partners under the WMC scheme.
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