The Chief Investment Officer for the consumer banking and wealth management divisions at Singapore's largest bank DBS is set to step down.
After some seven years with the bank Lim Say Boon, a well known and respected figure in the Asian wealth management business, is about to retire.
According to business news outlet «CNBC» a replacement for Lim has not yet been announced.
The report also claims that the bank is understood to have interviewed both local and international candidates for the role, but the recruitment process is believed to be taking longer than usual.
Growing Importance of Wealth Business
The wealth units at DBS have been growing in prominence in recent years as the bank, through acquisitions and solid organic growth, has bulked up on assets and services underpinned by a strong digital push.
CEO Piyush Gupta recently stated that he expected the wealth units to be contributing up top one fifth of the total income of the bank within the next few years.
