DBS $8 million dollar CEO No sound No picture

[theDoors]

DBS CEO pay package S$8.04 mln in 2010 vs OCBC CEO's S$7.48 mln
Fri, Apr 1 2011
DBS CEO pay package S$8.04 mln in 2010 vs OCBC CEO's S$7.48 mln | Reuters

 

[theDoors]

http://sg.news.yahoo.com/posb--dbs-investigate-rash-of-fraudulent-withdrawals.html

I find it strange that the locals were answering all the queries raised at the DBS press conference today.

Why do we need to pay the CEO $8 million when he is technically redundant.

 

[theDoors]

The amount too small to concern the CEO?

The Straits Times
The Straits Times
Published on Jan 7, 2012
Printed from straitstimes.com

Banks shouldn't neglect small account holders


SINCE the consolidation of local lenders into three big banks, I notice customer service standards for small account holders have dropped ('Banks' by Mr Dennis Koh; Thursday).

The main issue is the removal of the chairs meant for customers waiting their turn after taking a queue number. Very often, they have to stand in long queues.

Meanwhile, the banks have introduced premier banking accounts for big account holders with deposits ranging from $200,000 to $2 million. They are given special treatment - faster service, a comfortable sofa to sit on while waiting, and are served with drinks and given newspapers and magazines to read.

It is apparent that the big banks, including foreign ones, are not interested in small account holders as the profits from them are likely to be very low. Therefore, the fewer of them, the better.

Lim Boon Tan
Copyright © 2011 Singapore Press Holdings. All rights reserved.

 

[saratogas]

They made him CEO to target the rich Indians in India, not for local domestic issues.

Singapore-based DBS Group has decided to launch project financing business in India and is likely to start the new initiative with a few projects in the power sector.

"In India, one of the things we are looking is to get into the project financing business and the first couple of projects we have looked into are power projects," DBS Group chief executive Piyush Gupta

 

[theDoors]

They made him CEO to target the rich Indians in India, not for local domestic issues.

Singapore-based DBS Group has decided to launch project financing business in India and is likely to start the new initiative with a few projects in the power sector.

"In India, one of the things we are looking is to get into the project financing business and the first couple of projects we have looked into are power projects," DBS Group chief executive Piyush Gupta

Then should change the name to DBI... Development Bank of India

 

[bhoven]

Then should change the name to DBI... Development Bank of India

The irony is that just the day before this IT fiasco this "scary smart" CEO boasted in a BT article that amongst his key accomplishments since being annointed head honcho is the revamping of the flawed IT platform in DBS inherited from his equally flawed slew of previous FT CEOs...

 

[theDoors]

Title : DBS CEO says sorry for ATM fraud
By :
Date : 11 January 2012 1402 hrs (SST)
URL : http://www.channelnewsasia.com/stories/singaporelocalnews/view/1176099/1/.html


SINGAPORE: DBS Bank's CEO Piyush Gupta said the bank is sorry for what the customers went through after it was hit by a string of fraudulent withdrawals of funds recently.

Speaking at a DBS Private Banking event on Wednesday, Mr Gupta added that the bank regrets the anxiety and inconvenience caused.

Last week, DBS found 400 cases of fraudulent ATM withdrawals from the accounts of its customers, which amounted to half a million dollars.

Following complaints from customers of the unauthorised transactions, DBS had immediately de-activated the compromised ATM cards.

All affected customers were also compensated in full within 24 hours.

Mr Gupta said he is happy with the bank's reaction to the crisis and that they were able to identify the affected ATMs and customers very quickly.

He has pledged to "stay ahead of the hackers" and assured customers that their deposits are safe.

- CNA/fa

 

[palden]

If he speaks, sure you can understand him or not?

 

[Conqueror]

Senile Lee swear by this FT from the land many deadly bacteria. So, everyone is sleeping on the job again. My goodness, nothing has changed. We have to thank the 60% for giving us this New Year gift. I can feel it already ... more to come next.

 

[borom]

Bird-Watching Chief Gupta Pursues 12% Return as DBS Group Expands in Asia

By Sanat Vallikappen - Feb 7, 2012


Piyush Gupta, chief executive officer of DBS Group Holdings Ltd......is positioning DBS to take advantage of rising wealth in Asia and to reduce reliance on its home market.........
The shift in strategy has delivered profit of more than S$700 million ($560 million) in four of the last five quarters, a level last reached in mid-2004. ...............
“Over the past year and a half, you can see that DBS has become a much more dynamic organization,” said Yasmin Krishan, a client director ......at EMA Partners, a London-based executive search firm. “Before, they were regarded as a clumsy giant. You never thought of DBS as this exciting place.” ...............
He also set a 2013 target for the bank of 12 percent return on equity, which was 10.8 percent in the third quarter of last year......

Gupta also spent the last two years “putting the basics into place,” he told the Foreign Correspondents’ Association in Singapore in November .That meant standardizing management processes and strengthening technology and infrastructure. It included improving operations at its Hong Kong unit, the former Dao Heng Bank Group Ltd. acquired in 2001 for $5.4 billion.

“When I took a deep look at the business, it appeared to me that we had never put in place the plumbing or the architecture required to run a multinational company,” he said.................

Before Gupta took over at DBS, managers didn’t know whether a branch or a customer was profitable, and they lacked uniform practices, Gupta said. He cited an example of an employee who, to prove a point, ran a credit application through the systems in Hong Kong and Singapore. It was approved in Hong Kong and declined in Singapore.

Gupta said he found striking differences from the procedures, customer focus and information systems at Citigroup, notwithstanding the New York-based bank’s $45 billion government bailout in 2008. Gupta, who grew up in New Delhi and earned a Master’s of Business Administration from the Indian Institute of Management in Ahmedabad, joined Citigroup in 1982, rising to head its Southeast Asia, Australia and New Zealand operations.

“There’s no question that a large part of what I learned at Citi is what we’re trying to implement at DBS,” Gupta said in an interview in November. ..........,

“He’s been a sharp executor,” said Sachin Nikhare, a Singapore-based banking analyst at IIFL Capital Pte. ........


A lack of “boundaries” under his predecessors meant the bank ended up with a lot of “hobby businesses” in the Middle East, Britain and the U.S., Gupta said. DBS had to write down more than S$1 billion in 2009 for nonperforming corporate loans in these areas as it turned its attention to Asia operations...........................

To help reach the goal, DBS hired Su Shan Tan from Morgan Stanley to head the private banking unit in 2010 and started a special business unit last year for clients with investable assets of at least S$1.5 million, a separate tier from the bank’s services for people with more than S$5 million to invest. The lender also ran its first advertising campaign in Hong Kong and Singapore aimed at wealthy depositors last year.
..............
“The private bank is getting very aggressive,” said Krishan of EMA Partners. “They’re recruiting. They’re coming up with products. They’re doing a lot more in that space.” ................

“Whatever he puts his mind to, he does it well,” said Krishan of EMA Partners, who has known Gupta since a 1986 picnic outing with a group of friends in Mumbai including her to-be husband who was a Citibank colleague of Gupta’s. “...............
http://www.bloomberg.com/news/2012-...ta-chases-returns-as-dbs-expands-in-asia.html

Wow, Sanat Vallikappen, Yasmin Krishan, Sachin Nikhare all gushing about Piyush Gupta-wonder what they have in common.
Now more and more noise about how clumsy,no basics in place, no plumbing or architecture,hobby businesses of DBS before this guy comes in.
What an insult to all the Singaporeans in DBS Management, Singaporeans customers and depositors who helped to make DBS the biggest bank in SEA.
His aim is to make DBS like Citibank.!
If he is so good, why don't the Indian Government or Indian tycoons invite him home to run one of the Indian banks and make it world class.