DBS Group announced after trading hours yesterday it is appointing former GIC stalwart Anthony Lim and former PepsiCo India marketing head Punita Lal to its boards, effective from April 1.

The bank said the appointments are part of DBS' board renewal process, which will see Mr Nihal Kaviratne and Mr Danny Teoh retiring on March 31.

Mr Lim will serve on DBS' main boards, as well as be a member of the bank's board risk-management committee and the executive committee.

Ms Lal will be a member of DBS' compensation and management development committee and, subject to regulatory approval, its nominating committee.

Mr Lim spent almost two decades with GIC before his retirement in 2017. He had joined GIC as its president of the London office in 1998 and in 2009, was appointed its president (Americas) based in New York.

He is on the boards of CapitaLand and CapitaLand Hope Foundation, and is a member of the Institute of International Education, Scholar Rescue Fund Selection Committee, and Teach For All Global Advisory Council. He is also a strategic adviser of American tech firm Ripple Labs.

Ms Lal has over 30 years of experience in various leadership roles in the consumer-packaged goods industry, including stints at Coca Cola in China. She is an independent director of Cipla and CEAT, both listed firms in India. She is also a member of the governing council of The Vedica Scholars Programme for Women in India.

THE BUSINESS TIMES