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Ex-GIC and PepsiCo veterans appointed to DBS’ board of directors

DBS Group announced after trading hours on Monday that it is appointing ex-GIC stalwart Anthony Lim and former PepsiCo India marketing head Punita Lal to its boards, effective April 1.

The bank said that the appointments are part of DBS’ board renewal process, which will also see Nihal Kaviratne and Danny Teoh retiring on March 31.  

Mr Lim will serve on DBS’ main boards, and will also be a member of DBS’ Board Risk-Management Committee and the Executive Committee.  Ms Lal will be a member of DBS’ Compensation and Management Development Committee and, subject to regulatory approval, its Nominating Committee.

Mr Lim, a seasoned financial-markets veteran, spent almost two decades with GIC before his retirement in 2017. He joined GIC as its president of the London office in 1998 and was appointed in 2009 as its president (Americas) based in New York. Prior to joining GIC, he was a senior managing director at Bankers Trust Company, where he held various management and trading positions in the global markets’ division in Singapore and London from 1987 to 1998. Before Bankers Trust, he was with the Monetary Authority of Singapore, where he spent three years in their New York Office.

He currently serves on the boards of CapitaLand and CapitaLand Hope Foundation, and is a member of the Institute of International Education, Scholar Rescue Fund Selection Committee, and Teach For All Global Advisory Council. He is also a strategic advisor of American tech company Ripple Labs. Ms Lal has over 30 years of experience in various leadership roles in the consumer-packaged goods industry, which included stints at Coca Cola in China and PepsiCo in India. Her last-held executive role was managing director and chief executive officer for NourishCo, a strategic joint venture between Tata Global Beverages and PepsiCo, from 2010 to 2012. 

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She is currently an independent director of Cipla Limited and CEAT Limited, both listed companies in India. She is also a director of retail company Life Style International and a member of the governing council of The Vedica Scholars Programme for Women in India.

In a statement, DBS chairman Peter Seah said: "Anthony is a seasoned financial markets professional with extensive global experience, while Punita brings with her a wealth of experience in the consumer-goods sector, honed in Asia’s two biggest markets, China and India.

“Their solid credentials make them strong additions to the DBS Boards at a time of intense competition for digital and sustainability leadership, and I look forward to working closely with them to further solidify DBS’ commitment in these areas.”

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