Incoming DBS Group CEO Tan Su Shan is open to pursuing smaller, strategic acquisitions that align with the Singaporean bank’s core focus, while prioritising the growth of high-return segments such as wealth management and transaction banking.
Tan, currently the deputy CEO, is set to take over the role on 28 March, becoming the first woman to lead Southeast Asia’s largest lender and the first internal appointment to the position.
She will succeed Piyush Gupta, who has helmed the bank for 15 years.
Speaking to Reuters via email, Tan said the bank would consider acquisitions that fit its strategy and add value within a reasonable timeframe, but ruled out large-scale mergers that could distract from key priorities.
She emphasised that any deals would need to be accretive and in line with DBS’ existing footprint, noting the bank would not look to stretch itself too thin.
Tan, a Singaporean and Oxford graduate who has spent 15 years at DBS, steps into the role as the bank posts record annual profits.
However, she acknowledged that global uncertainties — including geopolitical tensions, potential trade disruptions, and shifting policy landscapes — could weigh on markets in the near term.
She said the bank conducts regular scenario planning and has early warning systems and action plans in place.
DBS operates across major Asian markets including Singapore, Hong Kong, India, China, Taiwan, and Indonesia.
Tan said she would continue efforts to maximise returns from the bank’s recent acquisitions in India and Taiwan, while strengthening its broader Asian presence.
Digital transformation and artificial intelligence will also remain in focus, with DBS already upskilling around 10,000 of the 13,000 staff identified for training in AI and data capabilities.
The bank aims to ensure its workforce is equipped for the future as technology reshapes financial services.
To support the transition, DBS has created a new Group Chief Operating Officer role, to be assumed by group audit head Derrick Goh from 1 April.
He will oversee operations and transformation initiatives across the bank.
Outgoing CEO Gupta described Tan as a hands-on, customer-focused leader who empowers her teams and drives performance through culture and development.
Featured image credit: Edited from DBS
