DBS appoints veteran as new country CEO for China

DBS D05 has appointed one of its veteran bankers, Ginger Cheng, as its new country chief executive officer (CEO) for its China operations, the bank said on Wednesday (Mar 16).

Cheng, who will be appointed effective Apr 1, subject to regulatory approval, is currently deputy CEO of DBS China and head of DBS's Institutional Banking Group (IBG) in China.

She takes over the role from Neil Ge, who will be retiring from the bank at the end of June. Cheng will also be part of DBS's Group Management Committee upon appointment.

Cheng has spent 20 years at DBS, having first joined syndicated finance at DBS Hong Kong in 2001. She has held progressively senior roles in IBG in both Hong Kong and China, and helped grow the bank's IBG business in China.

DBS CEO Piyush Gupta said it is "testament to our deep bench strength and commitment to grooming talent" that the bank was able to appoint a successor to Ge from internal candidates.

"I am particularly delighted that we will further add to DBS's already strong set of female leaders in top management," he added.

Shares of DBS closed at S$33.89 on Tuesday, up S$0.73 or 2.2 per cent.

READ MORE:

• DBS chief Piyush Gupta's 2021 salary jumps 48% to S$13.6m
• DBS Q4 profit up 37%; loans and CASA at record levels ahead of Fed hikes
• DBS to buy Citi's Taiwan consumer banking business with S$956m premium