DBS Group Holdings has added two independent directors to its board and that of DBS Bank.
The appointments of Anthony Lim and Punita Lal are effective 1 April, the group said.
They replace Nihal Kaviratne and Danny Teoh who will step down on 31 March, as part of the boards’ renewal process.
Lim, a financial markets veteran, spent 19 years at Singapore sovereign wealth fund GIC before retiring in 2017. He joined the firm as president of its London office, and was subsequently named president (Americas) and based in New York.
Prior to that, Lim was with Bankers Trust Company, where he held various management and trading positions in Singapore and London. He also spent three years at the Monetary Authority of Singapore.
Meanwhile, Lal brings over 30 years of experience in strategy, marketing and leadership in the consumer-packaged goods industry, having worked for Coca-Cola in China and PepsiCo in India.
Her last held executive role was managing director and CEO of NourishCo, a strategic joint venture between Tata Global Beverages and PepsiCo.
Peter Seah, chairman of DBS Group Holdings and DBS Bank, said: ‘I join my fellow directors in welcoming Anthony and Punita to the boards.
‘Their solid credentials make them strong additions to the DBS boards at a time of intense competition for digital and sustainability leadership, and I look forward to working closely with them to further solidify DBS’ commitment in these areas.’
DBS has 28,000 staff and a presence in 18 markets globally. It has six priority markets in Asia, namely Singapore, Hong Kong, China, India, Indonesia and Taiwan.
The lender expects the Covid-19 outbreak to put a 1%-2% drag on its full-year revenue for 2020.
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