DBS Appoints Derrick Goh as Group Chief Operating Officer
DBS, Singapore’s largest lender, has appointed Derrick Goh, its current group audit head, to the newly created role of group chief operating officer, the bank announced on Wednesday (Feb 12).
Goh, who is also a Member of Parliament for the Nee Soon Group Representation Constituency, will oversee both the bank’s operations and transformation divisions, and will also join its executive committee. His new role takes effect from April 1.
New Leadership Appointments
Koh Kar Siong, who is currently group head of corporate and SME (small and medium enterprise) banking, will take over from Goh as head of audit. He will be a member of the bank’s management committee.
Background of Key Appointees
Derrick Goh, 56, has been with DBS since 2008 and has held various senior roles in the bank. Before becoming head of the group’s audit team in 2018, he led its regional wealth management program. Prior to that, he was head of POSB and consumer banking group distribution in Singapore.
Koh Kar Siong has been with DBS since 2003, holding various roles in consumer banking group and wealth management.
Other Management Changes
Jimmy Ng, currently the group’s head of operations, will retire from executive duties from July 1. He will continue as a senior adviser for the bank’s artificial intelligence efforts until the end of the year.
CEO’s Comment
DBS’ outgoing CEO, Piyush Gupta, said that these management changes reflect the bank’s robust bench and its success in grooming the next generation of leaders from within the company.
Conclusion
The appointments demonstrate DBS’ commitment to developing its leadership pipeline and ensuring continuity and stability in the face of changes in the financial industry.
Frequently Asked Questions
Q: When do the new appointments take effect?
A: The appointments take effect from April 1.
Q: Who will take over as head of audit?
A: Koh Kar Siong will take over from Derrick Goh as head of audit.
Q: Who will be the new group chief operating officer?
A: Derrick Goh will assume the newly created role of group chief operating officer.
Q: Who will retire from executive duties?
A: Jimmy Ng will retire from executive duties from July 1.
