Veteran DBS investment banker to step down in June

Investment banking veteran Eric Ang (left) will step down as the capital markets head of DBS on June 1. He will be replaced by his deputy, Ms Eng-Kwok Seat Moey (right). -- PHOTO: DBS BANK
Investment banking veteran Eric Ang (left) will step down as the capital markets head of DBS on June 1. He will be replaced by his deputy, Ms Eng-Kwok Seat Moey (right). -- PHOTO: DBS BANK

INVESTMENT banking veteran Eric Ang will step down as the capital markets head of DBS on June 1.

He will be replaced by his deputy, Mrs Eng-Kwok Seat Moey, in a change announced on Monday.

Mr Ang, 61, will stay on as senior executive adviser, responsible for helping build relationships and getting new business for DBS. He will also join the DBS Foundation to strengthen the bank's corporate social responsibility efforts.

Mr Ang has been with DBS for more than 35 years, working on some landmark deals, including managing the 1993 initial public offering (IPO) of SingTel and developing and launching Singapore's first real estate investment trust, CapitaMall Trust, which listed in 2002.

Mrs Eng-Kwok will take over a team of 70 investment bankers, based in Singapore and in regional markets like China, Hong Kong and Malaysia.

The capital markets team advises companies on IPOs and secondary equity-fund raising exercises like rights issues.

DBS has other teams to advise companies looking to issue debt or conduct reverse takeovers.

Mrs Eng-Kwok has been with DBS for over 15 years, joining in 1998 when it acquired POSB, where she had been vice-president for asset management.

She was appointed deputy head of capital markets in March last year.