Anthony Lim slated to become DBS chairman, succeeding Peter Seah
DBS Group in Singapore said that board member Anthony Lim is set to become chairman, taking over from Peter Seah, who will retire and serve as senior adviser for a year. The bank's statement confirmed the planned leadership change, noting that Lim will assume the role on the first day of the new year. The announcement was made during a press briefing and underscores the bank's succession planning. The appointment comes after DBS reported a 5% decline in third-quarter net profit to S$2.
81 billion, missing analysts' forecasts. Earlier reports noted that Seah would step down at the end of the year and that Lim, an independent director, would succeed him. The profit dip prompted the bank to explore new growth avenues, including a potential prime brokerage unit.
