Focusing to strengthen the bank’s position in the wealth management, Tan will spearhead the development of the DBS wealth management business range including DBS Treasures, DBS Treasures Private Client and DBS Private Bank.
Tan, who has been DBS’ wealth management head since July 2010, will succeed Tan Kong Khoon, who is retiring from DBS, and will relocate from Singapore for personal reasons.
Tan has been the founder and past president of the Financial Women’s Association in Singapore.
Apart from this, the bank has named Domenic Fuda, current chief financial officer (CFO) of consumer banking (CBG) as the deputy group head of consumer banking/wealth management.
Tan will continue to personally manage the wealth management business and Fuda will take the responsibility of the remaining consumer banking business and report to Tan.
Prior to being promoted in the new role, Fuda played a key part in shaping the bank’s consumer banking portfolio, and his appointment ensures momentum and continuity, the lender said.
Having nearly 20 years of experience in consumer banking and wealth management, Fuda joined DBS in March 2010 and before that he worked with Citigroup for more than 15 years and held a number of senior positions across Asia.
Before joining DBS, Fuda served as Citi chief operating officer for South East Asia Pacific, Australia and New Zealand.
Managing more than 200 offices across 15 markets, DBS offers a wide variety of services in consumer, SME and corporate banking activities across Asia.
