Piyush Gupta appointed Temasek India chairman
The ex-DBS chief executive takes up his new role from Dec 1
[SINGAPORE] State-owned multinational investment firm Temasek on Friday (Nov 28) announced that former DBS chief executive Piyush Gupta will be appointed Temasek India chairman in an advisory capacity from Dec 1.
In this non-executive role, he will work closely with Ravi Lambah, Temasek’s head of India and Strategic Initiatives, as well as the larger India team on the company’s investment strategies.
Gupta will also partner and support Temasek portfolio companies as they identify opportunities in India, while taking on an “institutional focus for Temasek” by engaging with the Indian government and business communities.
He is currently the deputy chairman of Keppel, the chairman of the board of trustees of Singapore Management University and chairman of Mandai Park Holdings Board. He also holds senior advisory roles in global companies.
“Piyush brings extensive business insights and strong connections developed over decades in financial services,” said Dilhan Pillay, the executive director and chief executive officer of Temasek Holdings.
“Complementing Ravi’s leadership of our India market, he will provide strategic counsel and help strengthen our institutional networks in India and beyond, enhance our franchise value, and expand our portfolio access.” Gupta said: “I look forward to collaborating with the team to deepen partnerships, pursue new opportunities, and contribute to Temasek’s continued growth in India.”
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Gupta served as the CEO of DBS for 15 years, from 2009 until March this year. The bank’s shares climbed nearly 270 per cent during his tenure, during which he led its digital transformation and implemented structural changes.
In 2024, Temasek said it had plans to invest up to US$10 billion in India over three years in sectors such as financial services and healthcare.
The state investor in July this year added that it is looking to invest more in Indian family-run businesses, just months after it invested US$1 billion in Indian snacks company Haldiram’s.
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