People Moves
DBS Bank In Singapore Appoints Ex-StanChart Man As Wealth Management CIO
Singapore-based DBS Bank has appointed ex-Standard Chartered chief investment strategist Lim Say Boon as chief investment officer for the bank’s wealth management business, DBS said today.
He will lead the development of a global asset allocation strategy for DBS’ wealth management clients, especially the bank’s private banking and Treasures Priority Banking customers, DBS said. This is a newly created role. He will report to Tan Su Shan, DBS’ head of private banking, and Rajan Raju, head of consumer banking.
He takes up his new role in October this year.
Previously, Lim Say Boon was chief investment strategist for Standard Chartered’s wealth management and private banking groups. He was also co-head of Standard Chartered Bank’s chief investment and advisory office.
Lim’s appointment is the latest in a series of initiatives and hires by DBS as the bank executes against CEO Piyush Gupta’s strategic priorities, which include strengthening the bank’s regional wealth management proposition for Asia’s affluent, DBS said in a statement.
“With the growing middle class and rising prosperity in the region, DBS sees opportunities to leverage its Asian connectivity, insights and relationships to build a leading wealth management business,” it said.
Another senior hire, Olivier Crespin, joined DBS Private Banking on 1 July as chief operating officer. Prior to DBS, Crespin had a 16-year career with Citi in Asia, North and South America. His latest position was global head of operations at Citi Private Bank, based in New York.
DBS Private Banking recently strengthened its Non Resident Indian (NRI) business, as well as its teams for Singapore and the region. The bank appointed Hemal Khanna and Gayatri Ahuja as team leads for the NRI segment. Khanna was previously a senior director at ABN Amro in Singapore, and Ahuja was from DBS Treasures. Other recent appointments include Samer Taki, who heads the Middle East team, Frances Boon who heads one of the Singapore teams, Geraldine Low who joined as a senior private banker and Mr Wee Yan Hann, who joined as senior regional product manager.
