DBS Group Names Citigroup’s Gupta as Chief Executive (Update1)
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By Joyce Koh
Sept. 1 (Bloomberg) -- DBS Group Holdings Ltd., the biggest Southeast Asian bank, hired Citigroup Inc.’s Piyush Gupta as chief executive officer.
Gupta, 49, will join DBS in November, and his appointment is subject to regulatory approval, the lender said in a statement to the Singapore stock exchange. Gupta is Citigroup’s CEO for Southeast Asia-Pacific, the company said.
“Piyush is strategic, yet detail oriented; and has the ability to nurture high-performing teams,” DBS Chairman Koh Boon Hwee said in the release.
The bank’s former CEO Richard Stanley died in April after being diagnosed with leukemia.
DBS, which requested a suspension on its shares, last traded at S$12.88. Last month, it reported a smaller-than-estimated 15 percent decline in second-quarter profit as income from stock broking, investment banking and wealth management rose.
To contact the reporter on this story: Joyce Koh in Singapore at [email protected]
Last Updated: September 1, 2009 01:00 EDT
Share | Email | Print | A A A
By Joyce Koh
Sept. 1 (Bloomberg) -- DBS Group Holdings Ltd., the biggest Southeast Asian bank, hired Citigroup Inc.’s Piyush Gupta as chief executive officer.
Gupta, 49, will join DBS in November, and his appointment is subject to regulatory approval, the lender said in a statement to the Singapore stock exchange. Gupta is Citigroup’s CEO for Southeast Asia-Pacific, the company said.
“Piyush is strategic, yet detail oriented; and has the ability to nurture high-performing teams,” DBS Chairman Koh Boon Hwee said in the release.
The bank’s former CEO Richard Stanley died in April after being diagnosed with leukemia.
DBS, which requested a suspension on its shares, last traded at S$12.88. Last month, it reported a smaller-than-estimated 15 percent decline in second-quarter profit as income from stock broking, investment banking and wealth management rose.
To contact the reporter on this story: Joyce Koh in Singapore at [email protected]
Last Updated: September 1, 2009 01:00 EDT
