DBS Group has announced that Tan Su Shan, currently the head of institutional banking, will succeed Piyush Gupta as CEO when he retires in March 2025. This historic appointment makes Tan the first woman to lead Singapore’s and Southeast Asia’s largest bank. Tan, 56, who joined DBS in 2010 from Morgan Stanley, will serve as deputy CEO until Gupta’s retirement.
Analysts view the appointment as a signal of continuity and stability, given Tan’s significant role in shaping DBS’s business strategy and culture. During her tenure, she built the bank’s wealth management and institutional banking businesses, which now generate 90% of its income.
Piyush Gupta, who has led DBS for 14 years, played a crucial role in transforming the bank’s culture and technology, steering regional expansions, and driving the company’s market value to over S$100 billion. Under his leadership, DBS shares have surged by 279%.
Tan’s appointment marks her as the second female leader of a major Singaporean bank, following Helen Wong of OCBC.