DBS Group Holdings, Singapore’s largest bank, has announced a significant leadership transition. Current CEO Piyush Gupta, who has led the bank for 14 years, will step down at the annual general meeting on March 28, 2025. Tan Su Shan, the bank’s Group Head of Institutional Banking, will succeed him.
Tan, 56, brings over 35 years of experience in consumer banking, wealth management, and institutional banking. Her extensive career spans key financial centers including Hong Kong, Tokyo, and London. She joined DBS in 2010 from Morgan Stanley, following a call from Gupta shortly after he became CEO.
Under Gupta’s leadership, DBS expanded its operations across India, Taiwan, and mainland China, and became recognised for its technological advancements. His tenure is credited with multiplying the bank’s returns and solidifying its presence as Southeast Asia’s largest bank by assets.
Tan’s appointment will mark her as the first woman to lead DBS and only the second woman to head a major bank in Singapore, following Helen Wong of Oversea-Chinese Banking Corp.
DBS’s announcement concludes years of speculation about Gupta’s successor. Tan’s leadership will continue the bank’s focus on digitalisation, a strategy she has championed in her current role.
