Singapore's DBS Group appoints Citi's Piyush Gupta as CEO

Singapore's DBS Group Holdings Ltd, the biggest bank in South-East Asia, said that it has appointed Piyush Gupta from Citibank Inc as its chief executive officer, about five months after the death of its previous CEO.

Singapore's DBS Group Holdings Ltd, the biggest bank in South-East Asia, said on Tuesday that it has appointed Piyush Gupta from Citibank Inc as its chief executive officer, about five months after the death of its previous CEO.

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Gupta, 49, is currently Citibank's chief executive for South-East Asia and the Pacific and is to join the DBS Group in November, the bank said in a statement.

Gupta with a 27-year career in banking is to succeed Richard Stanley, who died of cancer in April.

He would be the second DBS CEO in a row from Citibank after Stanley joined DBS from Citibank China.

"He is a versatile and experienced banker who has spent the last 20 years in South-East Asia and Hong Kong," DBS chairman Koh Boon Hwee said of Gupta.

"We are confident that he will help to strengthen our franchise and grow our footprint in Asia," he added.