Yesterday, DBS unveiled Tan Su Shan as its next CEO. During a media briefing, it was foreshadowed what the future may hold for the Singaporean bank under the new leadership of the 27-year veteran.
Tan Su Shan has been named as the new CEO of DBS, succeeding incumbent Piyush Gupta in March 2025. According to chairman Peter Seah, the bank engaged independent consultants to benchmark candidates against many top names, both within and outside the industry, with Tan coming out on top.
«The board decision to appoint Su Shan [as CEO] was unanimous,» he said during a media briefing yesterday on August 7.
Top Traits
Seah outlined a number of reasons that led to Tan’s appointment, such as her successful leadership of both the consumer and wealth management unit as well as the institutional banking group (IBG), both of which account for the majority of DBS’ income. He spoke about Tan’s part in the bank’s tech journey, including her involvement in Singapore's widely used payment app «PayLah!».
Aside from hard factors, Seah also highlighted soft ones, most notably Tan’s people skills internally.
«The board has also found that she manages people well,» Seah said. «She gets along very well with the rest of the team.»
The Four «C’s»
Under her leadership, Tan said that DBS will focus on what she describes as the four «C’s»: a culture of being «neighbors first, bankers second», as per DBS-owned consumer bank POSB’s motto; a focus on customers; internal collaboration; and the continuity of a legacy built on transformation, innovation and growth. On collaboration, she foreshadowed greater cross-divisional activities in the future.
«I've worked in consumer, retail, wealth, private bank. I now run IBG,» Tan added. «I think I can bring a lot more collaboration […] to the customer, bringing them a one-bank solution.»
Piyush Gupta’s Retirement
Gupta will step down as CEO after 15 years of leading the Singaporean lender and over four decades in the banking industry. During the media briefing, he said that he planned to pursue other areas outside of banking, including nature and conservation.
«I'm actually very grateful for the opportunity to have been able to lead this iconic institution and make a difference and fly the Singapore flag high over this period,» Gupta commented.
«I am deeply honored to have been selected to succeed Piyush,» Tan said in a separate statement. «Some months after Piyush joined as CEO [in 2009], he called to persuade me to join DBS. I responded to that call and quit the foreign bank I was working at the next day. Joining DBS felt like a homecoming – it is the bank I grew up with, and also the company where I first interned.»
