Piyush Gupta will step down as DBS chief executive officer and will be succeeded by Tan Su Shan, who was appointed as deputy CEO, in addition to her current role as Group Head of Institutional Banking.

The changes were made in a bourse filing by Singapore's largest bank on Wednesday, Aug. 7.

Gupta will retire as CEO at the next annual general meeting on Mar. 28, 2025 and Tan will succeed him.

Tan was appointed deputy CEO on the same day as the announcement was made that Gupta will step down.

Gupta was made CEO of DBS in 2009.

He was with Citigroup for 27 years before that.

During his tenure, DBS was named "World's Best Bank" by publications such as Euromoney and Global Finance.

Gupta was awarded the Public Service Star by Singapore's President in 2020.

Top photo via DBS