DBS, on March 16, announced that it will be appointing Ginger Cheng as its new country CEO for DBS China.
Cheng’s appointment will be effective April 1.
She is currently the deputy CEO of DBS China and is the head of the bank’s institutional banking group (IBG) within the country.
Following her appointment, Cheng will be part of DBS’s group management committee.
In her 20-year career in DBS since 2001, Cheng has held progressively senior roles in IBG in both Hong Kong and China.
In October 2019, she was appointed Head of IBG China, and her remit was expanded to include the DBS China Deputy CEO role in September 2021. Under her leadership, DBS’ IBG business in China has grown exponentially, with increased connectivity across the region, says the bank.
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Cheng will succeed outgoing CEO Neil Ge, who will be retiring from the bank in end-June, 10 years after he was appointed to the role.
As CEO of DBS China since June 2012, Go oversaw repositioning of DBS China’s consumer and SME business. He was also in charge of the sharpening of the institutional investors strategy and the establishment of a capital markets franchise.
During his tenure, DBS was one of the first banks to join China’s cross-border interbank payment system. It was also the first foreign bank in China to forge an alliance with the Shanghai International Energy Exchange.
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“Under Neil’s leadership, DBS today has a growing franchise in China which we will continue to build on. It is testament to our deep bench strength and commitment to grooming talent that we have been able to appoint his successor from our slate of internal candidates. I am particularly delighted that we will further add to DBS’s already strong set of female leaders in top management,” says DBS CEO Piyush Gupta.
Shares in DBS closed at $33.87 on March 15.
Photo: Bloomberg
