DBS Adds Public Sector Veteran as Board Member
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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.
Questions & Answers
Q.When will Chng Kai Fong officially join DBS's boards?
When will Chng Kai Fong officially join DBS's boards?
Chng Kai Fong's appointment as a non-executive director on the boards of DBS Holdings and DBS Bank will become effective on March 31 this year. This is according to a statement released by DBS regarding his new role.
Q.What is Chng Kai Fong's current professional role?
What is Chng Kai Fong's current professional role?
Chng Kai Fong is currently serving as the managing director of the Singapore Economic Development Board (EDB). He took on this position in October 2017, prior to which he was the principal private secretary to the Prime Minister of Singapore.
Q.Which existing board members are stepping down from DBS?
Which existing board members are stepping down from DBS?
As part of DBS's renewal process, three longstanding board members, Euleen Goh, Ow Foong Pheng, and Andre Sekulic, will step down from their positions. Their departure is scheduled for March 30.
Q.What additional responsibilities will Chng Kai Fong have at DBS?
What additional responsibilities will Chng Kai Fong have at DBS?
Beyond joining the boards of DBS Holdings and DBS Bank, Chng Kai Fong will also serve as a member of DBS’s audit committees and nominating committees. This expands his involvement within the bank's governance structure.
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