<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 17, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>DBS statement
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The following is DBS's statement on its executive Josie Lau, who is also the new president of Aware:
'The bank takes pride in the fact that many DBS employees pursue their interests and passion outside work, and are involved with various community/charity/volunteer organisations in their personal capacity. These employees had sought and obtained prior approval to do so, in accordance with the Bank's staff code of conduct. Approval is granted on a case-by-case basis, depending on the demands of the proposed external appointment as well as the job responsibilities that the individual holds in the bank.
Josie informed the bank of her appointment as Aware exco member on 13 April, over two weeks after she was appointed on 28 March. She had not sought prior approval for this appointment and thereby breached the staff code of conduct. Nevertheless, DBS made a concession and agreed to support her involvement as exco member.
Early this week, Josie broached the subject of her intent to run for president of Aware. We reviewed her request and subsequently informed her that while the bank continues to support her involvement in Aware, we could not support her intent to run for president, given the demands associated with the top post of a leading advocacy group in Singapore. Banks worldwide are facing very challenging times and her role as VP in the credit card space today is even more challenging, given the environment we are in.
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</TD></TR></TBODY></TABLE>Every year, all employees are required to acknowledge that they will abide by the bank's policies. We are disappointed that Josie knowingly disregarded DBS's staff code of conduct twice. Such attitude is not one that DBS, or any other organisation, can condone in a leader. We are now reviewing the matter internally.'
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>DBS statement
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>The following is DBS's statement on its executive Josie Lau, who is also the new president of Aware:
'The bank takes pride in the fact that many DBS employees pursue their interests and passion outside work, and are involved with various community/charity/volunteer organisations in their personal capacity. These employees had sought and obtained prior approval to do so, in accordance with the Bank's staff code of conduct. Approval is granted on a case-by-case basis, depending on the demands of the proposed external appointment as well as the job responsibilities that the individual holds in the bank.
Josie informed the bank of her appointment as Aware exco member on 13 April, over two weeks after she was appointed on 28 March. She had not sought prior approval for this appointment and thereby breached the staff code of conduct. Nevertheless, DBS made a concession and agreed to support her involvement as exco member.
Early this week, Josie broached the subject of her intent to run for president of Aware. We reviewed her request and subsequently informed her that while the bank continues to support her involvement in Aware, we could not support her intent to run for president, given the demands associated with the top post of a leading advocacy group in Singapore. Banks worldwide are facing very challenging times and her role as VP in the credit card space today is even more challenging, given the environment we are in.
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