Piyush Gupta steps down as CEO at his final AGM with DBS

Mr Piyush Gupta has officially stepped down as DBS Bank chief executive and passed the baton to Ms Tan Su Shan.

- Sheila Chiang

Ms Tan, who is the first female CEO in DBS' history and was previously the bank's deputy CEO, is expected to continue DBS' focus on high return on equity businesses and global growth.

In a statement read out at DBS' annual general meeting (AGM) on March 28 at the Sands Expo and Convention Centre, Temasek Holdings CEO Dilhan Pillay said that the partnership between DBS chairman Peter Seah and Mr Gupta created "significant value" for the bank, its franchise, its shareholders and the financial services sector.

Temasek is a major shareholder of DBS.

"Piyush Gupta has driven a total transformation of DBS over these 15 years. His achievements speak for themselves — the accolades that DBS has received over the years, including recognition by Euromoney in 2016 as the first bank to be named World's Best Digital Bank. In 2018, DBS was named the World's Best Bank and has received the award multiple times since then," said Mr Pillay.

He added that DBS will continue to be in the good hands of Mr Seah and Ms Tan, and that Temasek is confident they will "continue to drive DBS' relentless focus on excellence for value to all its stakeholders".

Mr Gupta, who is 65 and a Singapore citizen, is stepping down from a high point in the bank's history.