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Piyush Gupta, who had been a part of Citibank Inc, has been appointed by DBS Group Holdings Ltd of Singapore as its new CEO. DBS Group Holdings Ltd is the largest bank in South-East Asia. This announcement was made by the DBS Group on Monday. The earlier CEO of the bank had passed away five months ago.
Piyush Gupta, 49, is currently the chief executive for the South-East Asia and the Pacific operations of the Citibank. He will be assuming the charge as DBS Group’s CEO from November. This was revealed in a statement published by the bank.
Gupta, who has had a 27-year old career in banking, is taking over Richard Stanley, who had passed away due to 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.
