DBS strengthens transaction banking with senior management appointment

Iain Taylor has been appointed chief operating officer of DBS' Global Transaction Services.
Iain Taylor has been appointed chief operating officer of DBS' Global Transaction Services.PHOTO: DBS BANK LTD.

SINGAPORE - DBS Bank said Monday it has hired seasoned banker Iain Taylor as chief operating officer of its global transaction services (GTS) with effect from Sept 15.

DBS said Mr Taylor will play a strategic role in leading the business to execute its growth plans.

Mr Taylor is currently the head of transaction banking at New Zealand-based ASB Bank, responsible for building and leading a team of professionals covering payables, receivables, cards, liquidity and connectivity. Under his leadership, the business has doubled over the past three years, said DBS.

Prior to ASB Bank, Mr Taylor spent 18 years at HSBC where he led the payments and cash management businesses in key Asian growth markets such as Singapore, Indonesia and South Korea, as well as held management roles in market development and marketing for transaction banking in the Asia Pacific.

Said John Laurens, DBS head of global transaction services: "Growing the GTS franchise is one of the bank's strategic priorities and the business has grown from strength to strength the past few years."

DBS said its GTS business has seen a compound annual growth rate of 18 per cent since 2009. In 2014, the business had a record high income of $1.62 billion, a 9 per cent increase over 2013. Its GTS business was also recently named the Best Transaction Services House in Asia by Euromoney.