BWI: DBS Appoints Two Industry Stalwarts to Board of Directors

Press release from Business Wire India
Source: DBS Bank
Thursday, April 28, 2011 12:33 PM IST (07:03 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Stock exchanges
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DBS Appoints Two Industry Stalwarts to Board of Directors
Consumer goods veteran Nihal Kaviratne, seasoned banker and investment manager Ho Tian Yee, join DBS Boards today

Singapore, Thursday, April 28, 2011 -- (Business Wire India) -- DBS Group Holdings (DBSH) said today it has appointed consumer goods stalwart Nihal Kaviratne, 67, as well as seasoned banker and investment manager Ho Tian Yee, 58, to the Boards of DBS Group Holdings and DBS Bank. With their distinguished careers, both men will complement and strengthen the overall composition of the DBS Boards.

Kaviratne's illustrious career with the Unilever Group spans 40 years, during which he held various senior level management positions across Asia, Europe and Latin America. He was instrumental in leading the recovery of Unilever Indonesia after the financial crisis of 1998, and retired from Unilever in March 2005.

Ho has over 30 years' experience in managing and investing in global financial markets. As principal shareholder and Managing Director of Pacific Asset Management, he oversees the management of the company and assumes responsibilities for all investment decisions and risks. Previously, he had spent 19 years with Bankers Trust Company, and was responsible for the Singapore branch operation and the strategic direction of the bank's global trading business in Asia.

Peter Seah, Chairman of DBSH and DBS Bank, said, "I join my fellow directors in welcoming Nihal and Tian Yee to the boards. Both are well-respected stalwarts in their fields. Nihal's solid credentials in the FMCG sector in markets such as India and Indonesia will serve us well as we strengthen our consumer banking franchise across the region. Tian Yee's many years of experience as a banker and risk manager also make him an invaluable addition to the Board as banks today operate in an increasingly complex, fast-changing and highly-regulated environment."

Seah also thanked Andrew Buxton, Ang Kong Hua, John Ross and Ravi Menon for their contributions to DBS. Buxton, Ang and Ross stepped down from the DBS Boards at the Group's Annual General Meeting today and Menon recently stepped down on 31 March.

Said Seah, "Andrew, Kong Hua, John and Ravi are highly-distinguished professionals and we have been privileged to have them serve on the DBS Boards. We regret that each one of them is stepping down and I am personally reluctant to see them leave the board. Unfortunately, John is approaching the nine-year limit as an independent director and Andrew has reached the age where shareholders have to approve his re-election as board member on an annual basis. Kong Hua now has to attend to pressing business matters and a few weeks ago, Ravi was appointed as Managing Director of MAS."

A former Chairman of Barclays Bank, Buxton, 72, is retiring after having served for more than five years on the DBS Boards. Ross, 66, was previously COO of Deutsche Bank and is stepping down after serving over eight years. Ang, 67, is stepping down after six years. He is presently Chairman of SembCorp Industries and Global Logistic Properties. Menon, 47, now helms the Monetary Authority of Singapore.

With the appointment of Kaviratne and Ho, DBSH Board of Directors now comprises nine members. They are:
. Peter Seah Lim Huat - Chairman
. Piyush Gupta - Chief Executive Officer
. Bart Broadman
. Christopher Cheng Wai Chee
. Euleen Goh
. Ho Tian Yee
. Nihal Kaviratne
. Kwa Chong Seng
. Danny Teoh Leong Kay

DBS will be announcing other new board appointments in due course.

About DBS
DBS - Living, Breathing Asia

DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for two consecutive years, in 2009 and 2010.

DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region's most dynamic markets. This market insight and regional connectivity have helped to drive the bank's growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 17,000 plus staff, representing over 30 nationalities. For more information, please visit www.dbs.com .



CONTACT DETAILS
Sudeep Bhalla , Head - Group Strategic Marketing & Communications, DBS Bank, +91 (22) 67528490/ 66388888, sudeepbhalla@dbs.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES

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