DBS appoints Lim Say Boon as Chief Investment Officer

Lim leaves Standard Chartered Bank to join DBS in October.

DBS Bank on Thursday announced the appointment of Mr Lim Say Boon, 53, as Chief Investment Officer for its wealth management business. Lim will spearhead the development of a global asset allocation strategy for DBS’ wealth management clients, especially the bank’s Private Banking and Treasures Priority Banking customers, according to a DBS announcement.

On his new role, Lim will be reporting to Ms Tan Su Shan, DBS’ Head of Private Banking, and Mr Rajan Raju, Head of Consumer Banking.

Lim will join DBS in October from Standard Chartered Bank, where he was Chief Investment Strategist for its wealth management and private banking groups. He was also co-head of Standard Chartered Bank’s Chief Investment and Advisory Office.

Lim’s appointment is the latest in a series of initiatives and hires by DBS as the bank executes against CEO Piyush Gupta’s strategic priorities, which include strengthening the bank’s regional wealth management proposition for Asia’s affluent, the announcement said.

“With the right people and platform, we need the right ideas to best advise our clients. The CIO office will pull together all the best brains – and insights – from various parts of the bank, to formulate a global investment strategy with an Asian bias for Asian clients. Most global banks offer a global asset allocation strategy for their clients, whether they are in the US, Europe or Asia. DBS’ investment strategy will be unique in that it will be formulated to fit in and resonate with our clients' strong Asian focus,” Tan said.

In a career spanning 28 years, Lim has held various senior positions in investment research and private banking/wealth management.

At DBS, Lim is expected to set up and work with a senior investment committee to set a multi-asset-class, strategic asset allocation framework for DBS’ wealth management clients that is risk-adjusted to suit different customer risk profiles. This strategic asset allocation framework will set the stage for relationship managers and investment counselors to advise their clients on their advisory, tactical positions or core, discretionary portfolios.

With the growing middle class and rising prosperity in the region, DBS said it is seeing opportunities to leverage its Asian connectivity, insights and relationships to build a leading wealth management business.