OMDA

[SINGAPORE] Peter Seah will retire from his role as chairman of DBS’ board after 16 years in the role, the bank said on Thursday (Nov 5).

He will be succeeded by Anthony Lim, a current board member, from Jan 1, 2027.

Seah, who will retire on Dec 31, 2026, will be appointed as senior adviser for a year.

Seah noted that one of the board’s most important responsibilities is ensuring continuity of leadership.

He said: “Having completed the CEO transition to Su Shan, the bank is now entering its next chapter from a position of strength.”

“I am therefore able to hand over the reins to Anthony with confidence, knowing that DBS is in very capable hands.”

As chairman since 2010, Seah provided “steadfast leadership and strategic oversight” as DBS pursued a strategy of digital transformation and growth in high-return businesses, the bank said.

Meanwhile, Lim has served on the DBS boards since April 2020, and sits on the Board Executive Committee, Board Risk Management Committee and Compensation and Management Development Committee (CMDC).

As chairman of the CMDC, he has played a key role in management succession planning, including the CEO transition, as well as remuneration governance and talent development, DBS said.

Prior to his retirement from executive roles in 2017, he held senior leadership roles at GIC and Bankers Trust, with assignments in Singapore, London and New York.

DBS CEO Tan Su Shan said Lim has “consistently brought invaluable perspectives” on a wide range of issues, from geopolitics and risk management to organisational leadership and talent development in board deliberations over the years.