Ex-DBS CEO Piyush Gupta appointed as alternate member of Council of Presidential Advisers

Piyush Gupta, the former CEO of DBS, has been appointed as an alternate member of the Council of Presidential Advisors (CPA).

The appointment was announced by the President's Office in a news release on Aug. 28.

It was made on the advice of the Prime Minister and in consultation with the Chief Justice and Chairman of the Public Service Commission.

As an alternate member, Gupta's appointment will last a period of four years.

Council of Presidential Advisors

The CPA's constitutional role is to advise the President in the exercise of his custodial powers over the reserves.

It is mandatory for the President to consult the CPA when exercising his custodial powers.

When former President Halimah Yacob approved the drawdown of past reserves to fund the government's Covid-19 support packages, she did so after having consulted the CPA.

The CPA comprises eight members and two alternate members.

Three members are appointed by the President at his discretion, three by the Prime Minister, one on the advice of the Chief Justice and one on the advice of the Chairman of the Public Service Commission (PSC).

There are two alternate members, one appointed by the President at his discretion while the other is appointed by the President on the advice of the Prime Minister, in consultation with the Chief Justice and PSC Chairman.

To ensure that appointments to the CPA are made at regular 2‑year intervals, members of the CPA are further divided into three divisions, based on who they were appointed by.

Each division will have one member appointed by the President and one by the Prime Minister.

In addition, the first division will have a member appointed on the Chief Justice's advice, and the second division will have a member appointed on the PSC Chairman's advice.

The terms of each division is staggered. Every two years, the terms of all members in one division will expire.

A member of the council is appointed the Chairman of the CPA.

The Chairman of the CPA will exercise the functions of the Presidential office if the office is vacant or if the President, due to health reasons, becomes unable to do so.

Alternate members are appointed for a four-year term. They will take the place of members, except the Chairman, if they are temporarily unable to take part in proceedings.

CPA proceedings are private and any public officer who appears before the CPA are prohibited from disclosing discussions.

Current CPA

The current CPA includes:

• Eddie Teo (Chairman)
• Lim Chee Onn
• Bahren Shaari
• Chua Sock Koong
• Mildred Tan-Sim Beng Mei
• Peter Seah Lim Huat
• Chao Hick Tin
• Tan Chong Meng
• Gan Seow Kee (Alternate member)
• Piyush Gupta (Alternate member)

Piyush Gupta is currently the Chairman of the Board of Trustees of Singapore Management University, Chairmain of Mandai Park Holdings Board, and Deputy Chairman of the Board of Keppel Ltd..

He served as DBS CEO for 15 years before stepping down on Mar. 29, 2025.

Top image via Piyush Gupta LinkedIn