Piyush Gupta, the Indian-born Chief Executive Officer of Singapore’s financial institution, DBS Group, has announced his impending departure. Gupta, who has held the position since 2009, will step down in March 2025. His successor will be Tan Su Shan, the bank’s current deputy CEO and head of institutional banking.
Gupta’s tenure at DBS has been marked by significant achievements. Under his leadership, the bank has gained global recognition for its technological advancements, earning titles such as “World’s Best Bank” from esteemed publications like Euromoney and Global Finance. DBS was also included in Harvard Business Review’s top 10 most transformative organizations of the decade.
In a show of accountability for service disruptions that plagued the bank, Gupta took a 30% pay cut in 2023. His total compensation decreased from SGD 15.4 million in 2022 to SGD 11.2 million last year.
Tan Su Shan, Gupta’s designated successor, brings a wealth of experience to the role. With over 35 years in the banking industry, she has held leadership positions across various financial hubs, including Hong Kong, Tokyo, and London.