DBS, Singapore’s largest bank, has announced two key senior appointments, including the new position of group chief operating officer.
Starting April 1, Mr. Derrick Goh, also a Member of Parliament for Nee Soon GRC, will take on the role of group COO, overseeing the operations and transformation group. Mr. Goh, who is currently DBS’ head of group audit, has been with the bank since 2008 and has held several senior positions before his participation in the 2020 General Election.
Prior to heading the group audit in 2018, he led the regional Treasures and Treasures Private Client wealth management business. Before that, he was head of POSB and Consumer Banking Group (CBG) Distribution in Singapore.
His other roles in DBS include being regional COO and chief financial officer of Institutional Banking Group and head of Finance, Group Planning, and Analytics.
Mr Koh Kar Siong, group head of corporate and SME banking, will succeed Mr Goh as group head of audit from Apr 1.
Mr Koh, who joined DBS in 2003, has worked across multiple business units and markets. Before his current role, he was head of SME banking in Singapore. He has also held key positions in the consumer banking group and wealth management, including leading POSB and CBG Distribution in Singapore and heading CBG in China.
“The management changes reflect DBS’ robust bench and underscore the success of our efforts over the years in grooming the next generation of leaders from within," said DBS CEO Piyush Gupta.
The bank announced last August that Mr. Gupta would be succeeded by Ms. Tan Su Shan upon his retirement at the next annual general meeting on March 28, 2025.
Ms. Tan will make history as DBS’ first female CEO. She joined the bank in 2010 and has been instrumental in expanding DBS’ consumer banking and wealth management business.
Additionally, DBS revealed that group head of operations Jimmy Ng will retire from executive duties on July 1.
“A strong champion of the bank’s innovation efforts over the past 15 years, he will be appointed senior advisor for the bank’s artificial intelligence efforts until Dec 31”, it said.
Describing him as “a driving force behind many of DBS’ innovation efforts”, Mr Gupta added that Mr Ng “introduced data and analytics, as well as agile ways of working, to the bank long before they were mainstream”.