DBS Adds Public Sector Veteran as Board Member

DBS has named a senior civil servant and former top aide to the Singapore Prime Minister to be a non-executive director on its boards.

Chng Kai Fong will join the boards of DBS Holdings and DBS Bank, according to a statement, effective March 31 this year. He will also serve as a member of DBS’ audit committees and nominating committees.

As part of the Singapore bank’s renewal process, longstanding board members Euleen Goh, Ow Foong Pheng and Andre Sekulic will step down on March 30.

According to DBS chairman Peter Seah, Chng’s appointment is expected to help further DBS’ status in global banking and digital leadership.

Chng, 42, is currently the managing director of the Singapore Economic Development Board (EDB) after first taking on the role in October 2017. Prior to joining the EDB, he was the principal private secretary to the Prime Minister of Singapore.

Chng also serves on the boards of EDB Investments Pte Ltd, EDBI Pte Ltd, Manakin Investments Pte Ltd, Singapore Israel Industrial Research and Development Foundation (SIIRD), Singapore Symphonia Company Limited, and Agency for Science, Technology and Research (A*STAR).

He is also an advisory board member of Singapore Management University’s Lee Kong Chian School of Business, Shell Gas & Power Development B.V.’s New Energies Advisory Board as well as a member of the Board of Trustees of Singapore University of Technology and Design.