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DBS makes new appointments to transaction banking team in bid to grow business

Singapore

DBS Bank has made new appointments to its transaction banking team as the lender seeks to grow the business.

Sriram Muthukrishnan, who joins the bank from HSBC, has been appointed group head of global transaction services (GTS) trade product management. Mr Muthukrishnan, who brings with him more than 20 years of banking experience in Singapore and the region, will be responsible for strengthening the bank's trade products and services. He will also oversee digital initiatives across the bank's trade products and services for both large corporates and small businesses.

Meanwhile, the bank appointed Navinder Duggal as the GTS-SME head in July this year, a new role established as the bank grows its market share in the SME (small and medium enterprise) segment. Mr Duggal's focus will be to shape and implement the bank's GTS-SME strategy in core markets such as Singapore and Hong Kong. He will report to the group head of GTS and group head of SME Banking, John Laurens and Joyce Tee, respectively.

Taking over Mr Duggal's previous role as group head of cash product management is Jasmin Ng, who has been with DBS for nearly 10 years. Prior to her latest appointment, Ms Ng was the Singapore cash product management head, where she managed the bank's payables, receivables and deposit products portfolio.

Mr Laurens said: "Developing new and deeper relationships with SMEs and large corporates continues to be a strategic priority for the bank. Our robust growth momentum in transaction banking is a strong testament to our strength in this business. Looking ahead, we look forward to further growing our business in depth and breadth across Asia, to cater to the needs of our clients globally."

DBS shares fell 30 cents to close at S$22.90 on Tuesday.