Going the extra mile
DBS Group has applied the principle of corporate diversity across the organisation in various ways.
IT MAY not have a formal, stated policy on corporate diversity, but financial services firm DBS Group has sought to apply its own principles across the organisation. And it has been quite successful in doing so. In the 2014 SIAS Corporate Governance Awards (SCGA), the financial services group emerged top in several categories, including one for board diversity, and another for corporate governance in the big cap category.
Its success in corporate governance also appears to be in agreement with the company's bottom line. In 2013, DBS's full-year earnings hit a record S$3.5 billion, and profit of S$2 billion from the first half of 2014 comprised what the bank made entirely in 2009.
In an exclusive interview with The Business Times, group chief executive officer Piyush Gupta revealed details of the extra mile that DBS took, beyond simply paying lip service of its diversity efforts to actual delivery.
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