Just look at Citibank. Soon locals will get sacked or sidelined by the blackout effect of Citibank.
http://asia.news.yahoo.com/rtrs/20090901/tap-dbs-c3bb44c.html
Singapore's DBS appoints Citi's Piyush Gupta as CEO
Reuters - 2 hours 5 minutes agoSendIM StoryPrint.* Gupta is currently Citi's Southeast Asia head
* DBS share trading suspended
* Appointment comes nearly 5 months after former DBS CEO died
SINGAPORE, Sept 1 - DBS Group <DBSM.SI>, Southeast Asia's biggest bank, has appointed Piyush Gupta from Citigroup <C.N> as its new chief executive, nearly five months after its previous CEO died of cancer.
The appointment of Gupta, 49, who oversees Southeast Asia and the Pacific for Citi, was unexpected after analysts had speculated that DBS might choose an insider for the post.
Gupta, a 27-year old banking veteran, will join DBS in November and be the second CEO from Citi in a row following former head Richard Stanley, who died in April.
"Gupta's broad-based banking experience, spanning frontline and support functions, positions him well to grow DBS's franchise," the bank said in a statement on Tuesday, confirming an earlier Reuters story.
For an interview with Gupta in his Citi role, see [ID:nSP131692].
DBS, 28 percent owned by state investor Temasek Holdings [TEM.UL], currently earns 90 percent of its profits from Singapore and Hong Kong and is keen to expand in Asia.
(Reporting by Kevin Lim and Saeed Azhar; editing by Neil Chatterjee)
http://asia.news.yahoo.com/rtrs/20090901/tap-dbs-c3bb44c.html
Singapore's DBS appoints Citi's Piyush Gupta as CEO
Reuters - 2 hours 5 minutes agoSendIM StoryPrint.* Gupta is currently Citi's Southeast Asia head
* DBS share trading suspended
* Appointment comes nearly 5 months after former DBS CEO died
SINGAPORE, Sept 1 - DBS Group <DBSM.SI>, Southeast Asia's biggest bank, has appointed Piyush Gupta from Citigroup <C.N> as its new chief executive, nearly five months after its previous CEO died of cancer.
The appointment of Gupta, 49, who oversees Southeast Asia and the Pacific for Citi, was unexpected after analysts had speculated that DBS might choose an insider for the post.
Gupta, a 27-year old banking veteran, will join DBS in November and be the second CEO from Citi in a row following former head Richard Stanley, who died in April.
"Gupta's broad-based banking experience, spanning frontline and support functions, positions him well to grow DBS's franchise," the bank said in a statement on Tuesday, confirming an earlier Reuters story.
For an interview with Gupta in his Citi role, see [ID:nSP131692].
DBS, 28 percent owned by state investor Temasek Holdings [TEM.UL], currently earns 90 percent of its profits from Singapore and Hong Kong and is keen to expand in Asia.
(Reporting by Kevin Lim and Saeed Azhar; editing by Neil Chatterjee)
