DBS ushers in new era with Tan Su Shan as first female CEO

A significant leadership transition is underway at DBS, Singapore’s largest bank. The financial institution announced that its long-standing CEO, Piyush Gupta, will step down from his role at the next general meeting on 28 March 2025.

Succeeding Gupta will be Tan Su Shan, who has been appointed Deputy CEO and will assume the role of CEO upon Gupta’s retirement. Tan, currently the Group Head of Institutional Banking, becomes the first woman to helm DBS in its history.

Gupta, who joined DBS in 2009 after a 27-year stint at Citigroup, has overseen a period of significant growth and transformation for the bank. Under his leadership, DBS has earned accolades such as World’s Best Bank and was named one of the top 10 most transformative organisations by Havard Business Review.

However, the bank has also faced challenges, including multiple service disruptions that led to regulatory penalties and pay cuts for senior management.

Tan, a seasoned banker with experience at Morgan Stanley and Citi, brings a wealth of industry knowledge to the role. She joined DBS in 2010 and has been instrumental in expanding DBS’ consumer banking and wealth management business. Beyond her banking career, she served as a Nominated Member of Parliament from 2012 to 2014 and sits on the advisory board of Dyson’s family office, Weybourne Holdings.

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“I am deeply honoured by this opportunity and very mindful of the responsibility it carries,” said Tan, during a media briefing. Reflecting on her career, she mentioned her first internship at DBS, describing her return to the bank as a homecoming.

In the months leading up to her succession, Tan and Gupta will collaborate closely to ensure a smooth transition. “Piyush has very big shoes to fill, but our shoes are different. Our styles may differ, but core values like culture, customers, collaboration, and continuity will remain steadfast,” she emphasised, reported CNA.