Possible CEO changes at DBS, UOB should be seen as positive
While change involving a long-serving leader is tricky, the banks are well placed to handle succession
CHANGE occurred at the apex of Singapore’s financial sector when Chia Der Jiun succeeded Ravi Menon as the managing director of the Monetary Authority of Singapore (MAS) early this year.
Menon was the central bank’s longest serving managing director, having led it since 2011. During Menon’s tenure, MAS won numerous accolades.
Are more high-level changes in Singapore’s finance sector forthcoming? The chief executive officers of DBS and UOB are older than Menon, and have been in place since September 2009 and April 2007, respectively.
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