DBS Bank, which has made significant strides in its transaction banking business, today announced a senior management appointment as part of its growth strategy.
Iain Taylor, a familiar name in the transaction banking industry, will join DBS Global Transaction Services as the Chief Operating Officer on 15 September 2015. Taylor will play a strategic role in leading the business to execute against its growth plans.
Taylor is currently the Head of Transaction Banking at New Zealand-based ASB Bank, responsible for building and leading a team of professionals covering payables, receivables, cards, liquidity and connectivity.
Under his leadership, the business has doubled over the past three years. Prior to ASB Bank, he spent 18 years at HSBC where he led the payments and cash management businesses in key Asian growth markets such as Singapore, Indonesia and South Korea, as well as held management roles in market development and marketing for transaction banking in Asia Pacific.
John Laurens, Head of Global Transaction Services, DBS said, “Growing the GTS franchise is one of the bank’s strategic priorities and the business has grown from strength to strength the past few years. We are very pleased to have Iain on board as we continue on our journey of making transaction banking a key growth driver of the bank.”
DBS’ Global Transaction Services business has seen a healthy 18 percent CAGR since 2009. In 2014, the business had a record high income of SGD 1.62 billion, a 9 percent increase year on year.
