Tan Su Shan — DBS Bank's group head of consumer banking and wealth management — is the first Singaporean to be named the world's Best Leader in Private Banking at the PWM/The Banker Global Private Banking Awards.
On Tan's win, Yuri Bender, editor-in-chief of PWM at Financial Times Group, said that she received close to unanimous support from the judges and stood out amongst 30 leaders from banks in North and Latin America, Europe and Asia.
"Although she has had a high profile in Singapore for many years, it was felt that her time has finally come, particularly regarding her leading role in the acquisition of the Asian private banking business of French bank Societe Generale," added Bender. DBS recently completed the acquisition of the French bank, increasing its high net worth assets under management to S$88 billion and assets under management for all wealth customers to S$129 billion.
Tan's company, DBS bank, also won in two categories at the awards ceremony in Geneva. It was named the Best Private Bank in Singapore, and Best Private Bank in Use of Technology. According to Bender, DBS won the latter category because of the way it has observed and adapted ideas pioneered in other Asian banks and non-financial companies. For instance, it has deployed IBM's Watson technology to leverage cognitive computing to wealth management.
"Research from the Aite group, which underpinned the decision-making process, shows that DBS has been one of the global leaders in both digital innovation to improve communication with private clients and broader implementation of larger-scale technology projects," he said.
Presented by PWM and The Banker, the Global Private Banking Awards 2014 honours the best private banks in the world based on growth and performance. The judging panel consists of 15 industry professionals from Asia, North America, Europe and the Middle East.
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