Peter Seah is set to step down from the boards of DBS Group Holdings and DBS Bank on Dec. 31 after 16 years, transitioning into a one-year role as senior advisor. Anthony Lim, who joined the board in April 2020 and previously spent nearly two decades at GIC, will officially assume the chairmanship on Jan. 1, 2027. His background across executive, risk management, and compensation committees is expected to guide the bank through complex financial environments. Seah leaves behind a robust legacy marked by substantial digital transformation and major profit expansion.
Key points
The leadership transition represents a planned board renewal process aimed at navigating…: The leadership transition represents a planned board renewal process aimed at navigating increasingly complex financial markets.
Anthony Lim leverages deep institutional knowledge from a 19-year tenure at Singapore sov…: Anthony Lim leverages deep institutional knowledge from a 19-year tenure at Singapore sovereign wealth fund GIC.
Peter Seah concludes a 16-year tenure during which DBS net profit increased more than fou…: Peter Seah concludes a 16-year tenure during which DBS net profit increased more than fourfold.
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Mr Lim, a DBS board member since 2020, will take over on Jan 1, 2027, as Mr Seah steps down after overseeing a period of significant growth and digital transformation at Singapore's largest bank.
SINGAPORE: DBS chairman Peter Seah will retire at the end of the year after 16 years at the helm, with independent director Anthony Lim set to succeed him on Jan 1, 2027, the bank announced on Thursday (Nov 5).
Mr Seah, 80, will retire from the boards of DBS Group Holdings and DBS Bank on Dec 31 before taking on a one-year appointment as senior advisor.
Mr Lim, 68, will assume the chairmanship of both entities as part of the bank's ongoing board renewal process.
Mr Lim has served on the boards of DBS Group Holdings and DBS Bank since April 2020. He currently chairs the bank's compensation and management development committee (CMDC). He also sits on its board risk management and executive committees.
DBS said these roles have given him a deep understanding of the bank's culture and strategy.
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