Company Briefs : DBS

DBS

Singapore electronic payment network Nets has appointed DBS' Singapore country head Shee Tse Koon to its board of directors.

He replaced Ms Tan Su Shan as representative to the board on Aug 13, Nets said yesterday. Ms Tan, who is group head of institutional banking at DBS, was also Nets chairman previously.

Mr Shee, as DBS' Singapore country head, is responsible for the bank's Singapore franchise. He has 25 years of experience in the banking industry and has held senior positions in Asia, the Middle East and Europe. Previously, he was head of group strategy and planning in DBS.


UBS

UBS yesterday announced the appointment of Ms Christine Novakovic as chief executive officer of the Swiss bank's European Union operations from Sept 1, reported Reuters.

The appointment, which is based in Frankfurt, will make Ms Novakovic one of the most prominent bankers in Germany, where women occupy less than 10 per cent of top management jobs in the finance industry.

She succeeds Mr Thomas Rodermann, whose contract was not renewed after "friendly, mutual agreement", the bank said.

In addition to her new role as CEO of UBS Europe, she will continue to oversee wealth management in Europe, the Middle East and Africa, as well as take on the head of country role for Germany and Austria.


WhatsApp

Facebook's messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation's fast-growing e-commerce sector, said people familiar with the matter.

Indonesia could become the second country worldwide where WhatsApp introduces such services, as it awaits regulatory approval from India - its biggest market by number of users - which has been delayed because of local data storage rules.

But, unlike in India where it plans to offer direct peer-to-peer payment services, WhatsApp will serve in Indonesia as a platform supporting payments via local digital wallets due to tough licensing regulations, the sources told Reuters. The Indonesia model could become a template for WhatsApp to adopt in other emerging markets to get around regulations on foreign players creating their own digital wallets, the sources said.

A version of this article appeared in the print edition of The Straits Times on August 21, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe