The bank achieved 12 quarters of consistently strong performances since 2010, while CEO Piyush Gupta managed to achieve the main goals outlined in his nine-point strategic roadmap.
DBS, under the leadership of Piyush Gupta, was named winner of the Best Managed Bank in the Asia Pacific at the prestigious Asian Banker Leadership Achievement Awards held at the Ritz Carlton Kuningan in Jakarta on April 23rd 2013.
The award was presented to Gupta by Muliaman Hadad, chairman of Indonesia’s new Otoritas Jasa Keuangan (OJK) which is the country’s equivalent of a Financial Services Authority. He was accompanied by William Isaac, a former chairman of the Federal Deposit Insurance Corporation (FDIC) and Cesar Virata, a member of the advisory council that decides on the award. Virata was the former prime minister of the Philippines.
The OJK was involved in the process of evaluating the application of DBS to acquire Indonesia’s Bank Danamon.
DBS is the largest bank in Singapore and the largest in the ASEAN region. It enjoys dominant market share across various business lines such as consumer banking and wealth management, institutional banking, capital markets and treasury.
Under Gupta’s leadership, DBS stated its strategy to be “The Asian Bank of Choice for the New Asia” and mapped out a nine-point strategic roadmap. Gupta transformed the DBS franchise, increasing disciplined execution, and enabling the bank to turn in 12 quarters of consistently strong performance.
“The advisors were clearly impressed by the depth and strength of the management team under Piyush,” said Ian Johnston, former chief executive, SWIFT Asia Pacific who was also the chairman of the advisory board. Other members of the advisory board included Cesar Virata, vice chairman, RCBC and former prime minister, Philippines; Paul Chow, former chief executive, Hong Kong Exchange; and Emeritus Professor Alain Chevalier, Professor of Finance, ESCP, Europe.
The six criteria met by DBS include the bank’s formidable financial performance and achievements in the period under review, evidence of overcoming adversities, a well-communicated vision, a 360 degree review of peers (including surveys and interviews with staff, investment analysts, as well as an online poll) and a study of the quality of the management team.
Gupta faced a number of challenges and crises since being named CEO in 2009. One of the major issues faced comprised a series of major system outages that affected DBS’ entire channel network. Gupta accelerated the programme to improve banks’ technology infrastructure resilience and took concrete steps to assure regulators as well as customers.
The full list of winners of the Leadership Achievement Awards includes:
Leadership Award and Best Managed Bank in the Asia Pacific
1. Piyush Gupta, chief executive, DBS Group, Singapore and Asia Pacific
Leadership Awards and Best Managed Banks
2. Abdul Wahid Omar, Chief Executive, Maybank, Malaysia
3. Alberto S Villarosa, Chief Executive, Security Bank, Philippines
4. Batkhuu Sharavlamdan, chairman and Sandag Sukhbold, chief executive, Savings Bank, Mongolia
5. David Hisco, chief executive, ANZ New Zealand
6. Dong Wenbiao, executive chairman, China Minsheng Bank, China
7. Khalid Ahmed Sherwani, chief executive, Allied Bank, Pakistan
8. Rajendra Theagarajah, chief executive, Hatton National Bank, Sri Lanka
9. Rana Kapoor, chairman and founder, YES Bank, India
10. Syed Mahbubur Rahman, chairman, BRAC Bank, Bangladesh
11. Truong Van Phuoc, chairman, Eximbank, Vietnam
12. Yoon-Dae Euh, executive chairman and chief executive, KB Financial Group, Korea
The following banks scored well as Best Managed Banks
13. Kasikornbank (Best Managed Bank in Thailand)
14. The Shanghai Commercial & Savings Bank (Best Managed Bank in Taiwan)
The following individuals were awarded the William “Bill” Seidman Lifetime Achievement Award
1. Djohan Emir Setijoso – currently President Commisioner, Bank Central Asia
2. Peter Seah Lim Huat – currently chairman, DBS Group, Singapore
For more information about The Asian Banker Leadership Awards click here
For all Leadership Achievement Award press releases click here