DBS appoints Derrick Goh as POSB Head

Derrick Goh will take over effective 1 October.

DBS Group Holdings announced today that Derrick Goh will be appointed as the new Head of POSB, effective 1 October 2012. Koh Kar Siong, the current Head of POSB, will succeed Pearlyn Phau as the Regional Head of DBS Treasures as Phau moves to become the Head of Consumer Banking in Hong Kong. The appointments underscore DBS’ commitment to mobility and talent development as it further entrenches its leadership in the region.

As Head of POSB, which is part of the DBS consumer banking group, Goh will provide leadership in further developing and growing the people’s bank. Leveraging on the new branch operating model, he will continue to foster deeper customer-branch engagement and embark on a customer segmentation strategy to bring customers a more customised banking experience. In addition, he will focus on strengthening POSB’s community roots through local programmes and increase the number of touchpoints islandwide to make banking even more convenient for customers.

Goh joined DBS in 2008 and is currently the Chief Operating Officer for Institutional Banking Group. Under his leadership, Goh successfully established the COO office to provide strategic direction in implementing a consistent approach to customer analytics, business analysis, risks and controls across IBG globally to drive business performance. A POSB customer since he was seven, Goh also has over 11 years of experience in global and regional consumer banking, in areas such as bancassurance and credit cards.

“As we further entrench our position as a leading bank in Asia, I believe that it is important to groom the next generation of leaders from within. It is heartening to see Derrick, Kar Siong and Pearlyn taking on new portfolios that will broaden their experience base and further hone their leadership skills. Derrick grew up with POSB and is a seasoned industry professional. POSB is a bank that is dear to many of us in Singapore and I believe he will help us to deliver even greater value to our customers and enable us to develop deeper bonds with the local community,” said Sim S. Lim, Singapore Country Head, DBS Bank.

With 19 years of banking experience under his belt, Koh joined DBS in 2003 and has assumed numerous leadership roles within DBS Group. He has been responsible for growing the POSB franchise in Singapore since 2009 and in implementing the new

branch operating model. Koh was instrumental in helping the bank establish a strategic partnership with SingPost, which increased the bank’s branch touchpoints to 145 outlets. He has also championed the POSB PAssion Run for Kids annual charity event, which raised more than SGD1 million for underprivileged children over the last three years.

In his new role as Regional Head of DBS Treasures, Koh will continue to strengthen DBS Treasures’ proposition to further deepen its engagement with the region’s affluent.

In her new appointment as the head of consumer banking in Hong Kong, Phau’s portfolio will include wealth management, mortgages, deposits, credit cards and unsecured loans. Phau joined DBS in 2003 and was most recently Regional Head of DBS Treasures. Prior to that, her previous roles include being Head of iBanking and Head of Treasures Singapore. She also played a key role in the development of the Treasures Private Client proposition, the launch of the DBS Wealth Continuum and the establishment of DBS Asia Treasures – a premier rewards platform for the bank's wealth management clients.

Tan Kong Khoon, Group Executive and Head of Consumer Banking, DBS Bank, said, “The consumer banking and wealth management landscape continues to evolve in response to ever-changing needs across the region. Over the years, Derrick, Kar Siong and Pearlyn have clearly demonstrated their understanding of customers’ needs and their ability to grow the business. I am very confident that they will work with their respective teams to leverage DBS’ Asian connectivity, insights and relationships to execute against strategy to be the Asian bank of choice.”