DBS announced that chairman Peter Seah will retire effective Jan. 1, 2027, with board member Anthony Lim taking over, Angela Tan of The Straits Times reported. Seah has chaired the bank since 2010, while Lim has served on its board since April 2020. Before retiring from executive roles in 2017, Lim held senior positions at GIC and Bankers Trust.
The leadership change came alongside DBS’s third-quarter 2026 results. Net profit was $2.81 billion, down 5% from a year earlier. For the first nine months of 2026, net profit rose 2% to $8.82 billion. The board declared a third-quarter dividend of 81 cents per share, made up of a 66-cent ordinary dividend and a 15-cent capital return dividend.
DBS is also considering a prime brokerage business, Tan Nai Lun of The Business Times reported. At a Nov. 5 briefing on the results, CEO Tan Su Shan said the bank had relevant capabilities but was still weighing its options. Prime brokerage services typically cater to hedge funds and other institutional investors; Tan Su Shan described a possibility, not a launch.
