Taking on the role of deputy CEO, the new appointee will become chief executive when the current postholder retires next March. Tan Su Shan's appointment marks a milestone in a 14-year career that saw her serve in wealth management roles, amongst others, at the bank.

Singapore’s DBS has appointed Tan Su Shan (main picture) as deputy CEO, adding to her roles as group head of institutional banking. It means that she is the first woman to lead Southeast Asia's largest bank. 

Tan is succeeding Piyush Gupta as CEO who will be retiring at the next annual general meeting on 28 March next year, the bank said in a statement yesterday. Gupta has more than 35 years’ bank and wealth management experience. 

Besides Singapore, Tan has worked in Hong Kong, London and Tokyo. 

Tan, who joined DBS in 2010, has built up the lender’s wealth business. Subsequently, she spent time managing the consumer banking/wealth management and the institutional banking businesses, which account for 90 per cent of DBS’ income. Among the highlights, DBS said, was her leading the day-to-day efforts to “operationalise the bank’s digitalisation strategy across the businesses she ran.”

Elsewhere, Tan has been president commissioner of DBS Indonesia since 2014.

Outside DBS, Tan has served on several boards in government, education and women’s leadership and was a nominated member of parliament in 2012-14. A graduate of Oxford University, she has attended leadership programmes at Harvard and Stanford.

“Under Piyush’s leadership, DBS has been transformed into a high-performing, high-returns institution recognised simultaneously for stability and innovation,” DBS chairman Peter Seah said. “Su Shan’s strategic orientation, track record in building businesses, familiarity with technology, leadership ability as well as strong stakeholder management and communication skills make her the ideal successor. Importantly for us, she also embodies the DBS culture.”