DBS APPOINTS TAN SU SHAN AS PRIVATE BANKING HEAD
***
DBS executes swiftly against strategy as it
ups ante in wealth management
SINGAPORE, 8 April 2010 - DBS Bank announced today that it has appointed one of Singapore's best-known wealth management talents, Tan Su Shan, 42, as Managing Director and Head of Private Banking, including asset management. In this regional role, Tan succeeds Amy Yip, who remains as CEO of DBS Hong Kong.
Tan joins DBS on 1 July from Morgan Stanley Singapore, where she was most recently Managing Director and Head of Private Wealth Management for Southeast Asia. She will be a member of DBS' Group Management Committee, reporting to Chief Executive Officer Piyush Gupta.
With the growing middle class and rising prosperity in the region, strengthening DBS' wealth management proposition for Asia's growing affluent is among the bank's key strategic priorities. Tan's appointment underscores DBS' commitment to growing the private banking business, as the bank executes swiftly against the strategic roadmap unveiled by Gupta in February.
DBS Private Banking was ranked sixth-biggest in Asia by Calamander Capital in 2008, and was named “Best Private Bank in Singapore” by FinanceAsia and Asiamoney last year. In Euromoney's Private Banking Survey 2009, the bank was named Best Local Private Bank in Singapore, and ranked eighth in Asia among the global banks.
Said Gupta: "Asia is creating wealth faster than anywhere else in the world. With our Singapore lineage, strong balance sheet and solid market insights, DBS is well placed to be a trusted advisor and a leader in wealth management in Asia. I believe Su Shan's extensive experience positions her well to lead this effort and take DBS Private Banking and DBS Asset Management to the next level."
Since May 2008, Tan has been Managing Director at Morgan Stanley as Head of Private Wealth Management for Southeast Asia. Prior to that, she was at Citi Private Bank as its Region Head for Singapore, Malaysia and Brunei. She was also board director of Citi Trust Singapore and the Singapore Investment Centre Head. From 1997 to 2005, she was Executive Director with Morgan Stanley Singapore, advising high net worth families, corporates and institutions in the region. Before joining Morgan Stanley, she spent seven years with the institutional equity and derivatives desk, working in key financial hubs in London, Tokyo and Hong Kong with ING Barings.
Tan is a board member of Aetos Security Management, a wholly-owned subsidiary of Temasek Holdings. She is also on the investment committee of Ministry of Health Holdings and a board member of the Khoo Teck Puat Hospital. Married with two children, Tan, an Oxford University alumna, is actively involved in fund-raising for various Singaporean charities. She also sits on Singapore's KK Hospital Health Endowment Fund and was the founder president of the Financial Women's Association.
Attachments
About DBS
DBS is the largest bank in Singapore, a leading bank in Hong Kong and is one of the largest financial services groups in Asia. Headquartered in Singapore, DBS has operations in 16 markets and is a well-capitalised bank with "AA-" and "Aa1" credit ratings, one of the highest in the Asia Pacific region.
As a bank that specialises in Asia, DBS leverages its insights, deep understanding of the region and appreciation of local cultures to serve and build lasting relationships with its clients. DBS provides a full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. DBS will leverage its growing presence in China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows in the Greater China region. The bank is also focused on extending its footprint and facilitating capital flows in fast-growing 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.