DBS appoints new head of SME Banking

Singapore, 23 Mar 2016 - DBS announced today that Joyce Tee has been appointed Group Head of SME Banking. In this role, Tee will oversee the bank’s SME banking businesses across the region and will report to Jeanette Wong, Head of Institutional Banking Group. Tee will also be the bank’s first female head of its SME banking franchise.

Tee started her career providing management consultancy and financial advisory solutions to small businesses and entrepreneurs in the US, working closely with the Small Business Administration and the US Department of Commerce. After spending 12 years in the US, she returned to Singapore and worked with OCBC Bank’s enterprise banking unit for four years, covering the offshore marine and commodities sectors. She joined DBS in 2004 and most recently headed the bank’s shipping, aviation and transportation businesses. Under her leadership, these business lines contributed substantially to the bottomline of the corporate banking franchise. Tee has also built trusted relationships with major industry players, including some of the world’s largest aircraft lessors, who tap on DBS to diversify their funding sources and access the capital markets in Asia.

Tee is taking over the reins from Lim Chu Chong, who recently relocated to China to head up DBS’ institutional banking franchise there. In addition to implementing a consistent SME business model across the region, Tee will be focused on leveraging digital innovation to drive client acquisition and deepen existing relationships, as well as further extend support to SMEs in a more challenging economic environment. 

“Our SME business has gained strong traction in recent years, with the focus on clients and through leveraging technology to make banking simpler and faster for SMEs. We are very pleased to have Joyce continue our journey of making SME banking a key growth driver for the bank. Joyce’s new role will leverage her experience and strengths in many areas including SME banking and industry expertise in shipping and aviation, offshore oil and gas and commodities, to help us continue making DBS the SME bank of choice for many SMEs in Asia. We believe it is important to groom our strong leaders internally by giving them a bigger platform to grow the business. Joyce has a very solid track record in relationship management; she is a great business developer and is a real asset to the bank," said Jeanette Wong, Head of Institutional Banking Group, DBS Bank.

Building a leading regional SME banking franchise was identified as one of the bank’s strategic priorities six years ago and since then, the business has grown from strength to strength. Income from SME banking grew 9% to a record SGD 1.53 billion in 2015. DBS now offers a robust digital suite of solutions which proactively addresses the needs of SMEs. DBS was recently lauded for its efforts in using technology to redefine the banking experience for SMEs, winning the “Excellence in SME Banking, Asia” award by Retail Banker International. The Asset also named DBS the “Best SME Bank for working capital and treasury” in Singapore earlier this month.  

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About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for seven consecutive years from 2009 to 2015.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.