Building a world-class regional
bank starts with
a willingness to rethink and, if required, redesign key elements of our
business ö beginning with the way we work together to better serve our
customers.
We operate in a highly
competitive marketplace at a very volatile time in history. We face
competition from local, regional and foreign banks, as well as global
investment banks and a wide range of non-bank financial institutions. We
conduct our business in
a rapidly-changing global environment that is increasingly shaped by
advances in information
technologies and a customer base that puts more and more emphasis on
efficiency, added value and personalised service. The bottom line: we
must make sure our employeesâ talents and energies are directed toward
satisfying our customers and growing our business. Weâre confident our
new organisation will achieve the required efficiencies and the
financial results will follow.
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We believe our ability to focus
externally and
coordinate internally is a critical
competitive advantage. Accordingly, we have made fundamental
changes to our organisation that will better align our businesses with
the marketplace, and in so doing make our
services more efficient and DBS Bank more focused and responsive to
customer needs. We have embarked on the centralisation of critical
support functions to leverage operating skills and more
clearly direct the talent and energy of our employees as well as to
control investments and expense.
At the same time, our new
organisation has prompted changes to our internal committee structure,
resulting in a business model that fosters cross-functional, pro-active,
participative management throughout
the DBS family, generating new ideas that will further enhance the
franchise. We merged titles at certain levels to flatten the
organisation structure and allow DBS to seize opportunities faster,
respond to market dynamics, and deliver global banking capabilities by
customer segment.
At the core of our new
organisation is a workforce that is encouraged to take initiative,
challenges the status quo and is accountable for its actions ö on
earnings, quality, growth, and corporate reputation. We value our people
as our most important resource. We seek to develop them to their full
potential through training and job enrichment. We ask
employees to think and act like owners. To that end, in 1999 we plan to
introduce a new stock-based compensation programme that will allow
employees to share in the future growth and success of DBS.
The Way Forward |
