DBS appoints group audit head Derrick Goh as group COO, a newly created role
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Mr Derrick Goh has been with DBS since 2008.
PHOTO: DBS
Janice Lim
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SINGAPORE - DBS Bank has appointed its current group audit head, Mr Derrick Goh, to the newly created role of group chief operating officer (COO), the bank said on Feb 12.
Mr Goh, who is also an MP for Nee Soon GRC, will be overseeing both the bank’s operations and transformation divisions, and will also join its executive committee.
Mr Koh Kar Siong, who is currently group head of corporate and SME (small and medium-sized enterprise) banking, will take over from Mr Goh as head of audit. He will be a member of the bank’s management committee.
Both appointments take effect on April 1.
Mr Goh, 56, has been with DBS since 2008 – before he joined politics and ran in the 2020 General Election – and has held a number of senior roles in the bank.
Before he became the head of the group’s audit team in 2018, he led its regional wealth management programme. Prior to that, he was head of POSB and consumer banking group distribution in Singapore.
His other roles in DBS include being regional chief operating officer and chief financial officer of the bank’s institutional banking group, as well as its head of finance, group planning and analytics.
As for Mr Koh, he joined DBS in 2003 and was head of SME banking in Singapore. Before that, he held various roles in consumer banking group as well as wealth management.
In addition, Mr Jimmy Ng, who is currently the group’s head of operations, will retire from executive duties on July 1.
He will be the bank’s senior adviser for its artificial intelligence efforts until the end of the year.
DBS’ outgoing chief executive Piyush Gupta said these management changes reflect the bank’s robust bench and its success in grooming the next generation of leaders from within the company.
Ms Tan Su Shan, who was previously the group head of institutional banking, was appointed deputy CEO in August 2024 ahead of her taking over the reins when Mr Gupta retires at the next annual general meeting on March 28.
DBS posted a net profit of $2.52 billion for the quarter ended Dec 31, 2024, up 11 per cent from $2.27 billion in the year-ago period, amid broad-based growth. THE BUSINESS TIMES
