DBS strengthens transaction banking team, appoints three new senior leaders
Singapore headquartered, DBS Bank has appointed former senior executive of HSBC, Sriram Muthukrishnan as the new DBS Group Head of Global Transaction Services (GTS) Trade Product Management and Navinder Duggal as the GTS-SME Head and Jasmin Ng as the Group Head of Cash Product Management.
While Sriram will oversee digital initiatives across the bank’s trade products and services, for both large corporates and small businesses, Navinder’s focus will be to shape and execute the bank’s GTS-SME strategy in core markets such as Singapore and Hong Kong. Sriram will also be responsible for strengthening the bank’s trade products and services.
Navinder was earlier heading the Cash Product Management until the bank introduced a new role as the bank grew its market share in the SME (small and medium enterprise) segment. Hence, Jasmin Ng who has been with DBS for close to 10 years and was earlier the Singapore Cash Product Management Head was promoted and given a new responsibility.
All these appointments have been made to support growth in DBS Bank’s transaction banking business, which accounted for 35 percent of the bank’s institutional banking business income in 2017, growing 17 percent year on year.
John Laurens, Group Head of GTS at DBS Bank said, “Developing new and deeper relationships with SMEs and large corporates continue to be a strategic priority for the bank. Our robust growth momentum in transaction banking is a strong testament to our strength in this business. Looking ahead, we look forward to further growing our business in depth and breadth across Asia, to cater to the needs of our clients globally.”
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