DBS, on Aug 1, announced that it will be appointing Lim Chu Chong as its president director of DBS Indonesia.
Lim will also be part of DBS’s group management committee in his new role.
Lim, a career banker in DBS, is currently the chief operating officer (COO) of DBS’s Institutional Banking Group (IBG).
He has over 25 years of experience in institutional, small- and medium-sized enterprise (SME) and consumer banking. He is also no stranger to Indonesia, having previously been Commissioner of DBS Indonesia.
Between 2016 and 2019, Lim was head of DBS IBG China. Prior to that, he was the regional head of SME banking.
Lim replaces outgoing president director Paulus Sutisna, who was in the role since 2015.
See also: OCBC China appoints Seth Tan new head of corporate banking
During his tenure, Sutisna has expanded the Indonesia franchise and transformed it into a leading digital banking player. In particular, he oversaw the successful integration of ANZ Indonesia’s consumer and wealth business with DBS in 2018.
Sustisna also oversaw the launch of digibank Indonesia in 2017.
“Indonesia is a key market for DBS, and under Paulus’ leadership, our business has not only grown but become more diversified, with good balance across the consumer/ wealth and institutional banking segments. In recent years, he has also brought our strong digital capabilities to bear in the market, enabling us to deliver seamless banking to clients,” says Piyush Gupta, DBS CEO.
See also: Frasers Property and ThaiBev make key leadership movements
“As a career DBS banker with deep business and market experience, I am confident that Chu Chong will build on our strengths in Indonesia and take the business to the next level,” he adds.
Lim’s appointment will be subject to regulatory approval; Sutisna will be appointed as non-independent commissioner of DBS Indonesia in due course.
Shares in DBS closed at $31.47 on July 29.
