DBS announces new role of chief operating officer to be helmed by Derrick Goh
Mr Koh Kar Siong, group head of corporate and SME banking, will take over from Mr Goh as group audit head.
Derrick Goh (left), who is currently Head of Group Audit, will take on the newly created Group COO position. Koh Kar Siong (right), who is Group Head of Corporate and SME Banking, will succeed Mr Goh as Group Head of Audit and be a member of the Group Management Committee. (Photos: DBS)
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SINGAPORE: Singapore's largest bank DBS on Wednesday (Feb 12) announced two senior-level appointments, including the newly created role of group chief operating officer.
Mr Derrick Goh, who is also a Member of Parliament for Nee Soon GRC, will be group COO from Apr 1, overseeing both the operations and transformation group. He is currently DBS' head of group audit.
Mr Goh has been with DBS since 2008 - before he ran in the 2020 General Election - and has held several senior roles in the bank.
Prior to heading group audit in 2018, he led the regional Treasures and Treasures Private Client wealth management business. Before that, he was head of POSB and Consumer Banking Group (CBG) Distribution in Singapore.
His other roles in DBS include being regional COO and chief financial officer of Institutional Banking Group, as well as head of Finance, Group Planning and Analytics.
Mr Koh Kar Siong, group head of corporate and SME banking, will succeed Mr Goh as group head of audit from Apr 1.
Mr Koh, who joined DBS in 2003, has worked across multiple business units and markets. Before his current role, he was head of SME banking in Singapore. He has also held key positions in the consumer banking group and wealth management, including leading POSB and CBG Distribution in Singapore and heading CBG in China.
“The management changes reflect DBS’ robust bench and underscore the success of our efforts over the years in grooming the next generation of leaders from within," said DBS CEO Piyush Gupta.
The bank said last August that Mr Gupta would be succeeded by Ms Tan Su Shan when he retires at the next annual general meeting on Mar 28, 2025.
Ms Tan will be the first female chief executive in the history of DBS. She joined the bank in 2010 and has been credited with expanding DBS’ consumer banking and wealth management business.
DBS also announced on Wednesday that group head of operations Jimmy Ng will retire from executive duties on Jul 1.
“A strong champion of the bank’s innovation efforts over the past 15 years, he will be appointed senior advisor for the bank’s artificial intelligence efforts until Dec 31,” it said.
Describing him as “a driving force behind many of DBS’ innovation efforts”, Mr Gupta added that Mr Ng “introduced data and analytics, as well as agile ways of working, to the bank long before they were mainstream”.
