DBS Group has appointed veteran banker Piyush Gupta as its new chief executive officer, ending a global search that has lasted several months.
Mr Gupta is currently Citibank's CEO for South East Asia-Pacific, covering ASEAN, Australia, New Zealand and Guam.
Analysts, whom Channel NewsAsia spoke to on Tuesday, said the certainty of a new CEO will help DBS prepare for growth ahead, amid signs that the worst of the market downturn is over.
Alfred Chan, analyst at Fitch Ratings Singapore, said: "The appointment of this CEO is rather timely since the signs of deterioration are abating and there is definitely increased opportunity for lending and other businesses.
"How this will translate for the bank depends on what the CEO will say once he steps into DBS bank."
Analysts also said concerns over Mr Gupta's lack of experience in the India and China markets – where DBS has long-term ambitions – are unfounded.
They said it is not his geographical expertise that counts, but rather the experience he brings from a large multinational lender that should be the focus.
Roger Tan, vice-president, SIAS Research, said: "Citibank has had good strategies in branding itself for the past few years. It's also implementing good operational strategies.
"If he can bring all these ideas into DBS, branding DBS, improving the operational excellence within DBS, it will make the bank stronger than what it is now."
Mr Gupta's appointment is subject to regulatory approval and he is expected to join DBS in November.
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Oh, bankers...I thought I heard that kelings were best wankers in the world.
To date, there's evidence of the latter but not the former.
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