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Mar 26, 2010
Here's a wish list for new DBS chairman
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IT IS good to learn that veteran banker Peter Seah will take over as chairman of DBS Group ('Peter Seah to be new DBS Group chairman'; last Saturday).
As Mr Seah also has considerable experience with government-linked companies, I hope he will use his new appointment to give a much needed boost to small and medium-sized enterprises (SMEs) in Singapore.
If the national bank of Singapore does not champion this cause, how can we expect private banks to take up their cause?
The role of a national bank, besides making profit for shareholders, has to be more broadly defined.
The recent increase of tuition fees at tertiary institutions by between 3 per cent and 10 per cent is a hefty one. Can the 'people's bank' or the national bank of Singapore help to cushion the burden of this hike in fees by providing soft loans to Singaporeans whose only path to social mobility is via education?
There are many other areas to which the new chairman must pay due attention, including adhering to financial prudence and ethics in the matter of investment products and providing first class service to the ordinary man in the street.
Having shorter queues at branches and providing good service to the small depositor should be given as much priority as that given to treasured customers with big deposits.
Patrick Low
Here's a wish list for new DBS chairman
<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
IT IS good to learn that veteran banker Peter Seah will take over as chairman of DBS Group ('Peter Seah to be new DBS Group chairman'; last Saturday).
As Mr Seah also has considerable experience with government-linked companies, I hope he will use his new appointment to give a much needed boost to small and medium-sized enterprises (SMEs) in Singapore.
If the national bank of Singapore does not champion this cause, how can we expect private banks to take up their cause?
The role of a national bank, besides making profit for shareholders, has to be more broadly defined.
The recent increase of tuition fees at tertiary institutions by between 3 per cent and 10 per cent is a hefty one. Can the 'people's bank' or the national bank of Singapore help to cushion the burden of this hike in fees by providing soft loans to Singaporeans whose only path to social mobility is via education?
There are many other areas to which the new chairman must pay due attention, including adhering to financial prudence and ethics in the matter of investment products and providing first class service to the ordinary man in the street.
Having shorter queues at branches and providing good service to the small depositor should be given as much priority as that given to treasured customers with big deposits.
Patrick Low
