DBS working on succession plan for long-serving chairman Peter Seah, Bloomberg News reports (updated)

Singapore Technologies Engineering

19/08/2026 09:34

Updates to add DBS' response in paragraph 3
Aug 19 (Reuters) - DBS Group DBSM.SI, Singapore's biggest bank, is working on a succession plan for its long-time Chairman Peter Seah, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Seah, who has led the bank for more than 16 years, has fulfilled his responsibilities in guiding the lender since joining the board in 2009 and becoming chairman in 2010, the report added.
A DBS spokesperson told Reuters that Seah remains the non-executive chairman of DBS Group Holdings, but did not comment on the chairman search.
A veteran Singapore banker, Seah has served as non-executive chairman of DBS and chairs its board executive committee and Hong Kong unit, according to the bank's website.
He was re-elected as chairman at the bank's most recent annual shareholders' meeting in March, the Bloomberg report said, and has also served as the chairman of Singapore Airlines SIAL.SI since 2017.
Previously, Seah was the chief executive of Overseas Union Bank and Singapore Technologies STEG.SI.  
During his tenure, DBS became the first Singapore-listed stock to surpass S$200 billion ($156.60 billion) in market value in July.
Earlier this month, the lender raised its full-year guidance while reporting a 9% rise in its second-quarter net profit. 

       
($1 = 1.2771 Singapore dollars)

 (Reporting by Rajasik Mukherjee; Editing by Nivedita Bhattacharjee and Sonia Cheema)
 ((Rajasik.Mukherjee@thomsonreuters.com;))