Incoming DBS chief poised to steer lender through challenges

Her experience and strong position of bank put her in good stead, say experts

- Prisca Ang

It is an overused phrase, but it really will be the end of an era for Southeast Asia's largest bank when star banker Piyush Gupta retires as DBS boss in March 2025.

The new era that beckons will present myriad challenges to successor Tan Su Shan, including a shifting macroeconomic environment and more demanding customers, but her experience and the bank's strong position put her in good stead to handle them, observers told The Straits Times.

The Aug 7 announcement on the changes was hardly a surprise. Ms Tan, 56, has been with the lender for 14 years and was one of the senior bankers tipped to be the next chief executive. She is group head of institutional banking and has also been appointed deputy CEO.

Chairman Peter Seah said the bank had benchmarked its candidates against the top names in the financial industry and broader business community. This will be the first time DBS has filled the top job internally.

Professor and former investment banker Rick Marchese said Ms Tan's appointment reflects DBS' steady growth: "When you look at candidates, typically, what you see is that you don't bring somebody externally in unless something is kind of broken, and you need a fixer."

Mr Willie Tanoto, a senior director in Fitch Ratings' Asia-Pacific financial institutions team, said DBS has become one of the stronger banking franchises in the region under Mr Gupta. "This is a hard-earned competitive advantage that was built up over many years... during a period when many other banking groups exited a pan-regional retail banking strategy," he added.