DBS appoints Anthony Lim as chairman, Peter Seah to retire after 16 years
DBS announced that independent director Anthony Lim will become chairman on Jan. 1, 2027, as Peter Seah steps down after a 16-year tenure.
Singapore's DBS Group Holdings said on Thursday that Peter Seah will retire from the boards of DBS Group Holdings and DBS Bank on Dec. 31, after serving as chairman since 2010. Seah, 80, will move to a one-year senior-advisor role.
Anthony Lim, 68, an independent director since April 2020, will assume the chairmanship of both entities on Jan. 1, 2027 as part of the bank's board renewal. Lim currently chairs the compensation and management development committee and sits on the board risk-management and executive committees, giving him insight into the bank's culture and strategy.
The bank highlighted Lim's experience in succession planning, remuneration governance and talent development, noting his previous 19-year career at sovereign-wealth fund GIC and senior roles at Bankers Trust and the Monetary Authority of Singapore.
Seah joined DBS's boards in 2009 and became chairman in 2010, overseeing a period of digital transformation and growth in higher-return businesses. During his chairmanship, DBS's income more than tripled and net profit grew more than fourfold, and its market capitalisation exceeded S$200 billion in July 2026.
DBS CEO Tan Su Shan thanked Seah for his leadership, saying it was a privilege to work with him and praising his strategic oversight and relationship-building skills. Former CEO Piyush Gupta described Seah's role in the bank's culture change as instrumental.
In a statement, DBS said Lim's global perspective, financial-markets experience and risk-management expertise position him well to guide the bank in an increasingly complex operating environment. Tan added that Lim’s expertise in geopolitics, risk and talent development will help DBS strengthen its position as a trusted, pan-Asian, AI-enabled bank.