DBS Group Holdings (DBSH) said today it is appointing a new Non-Executive Director to the Boards of DBSH and DBS Bank. Mr Chng Kai Fong, 42, will join the boards effective 31 March 2021.

Mr Chng Kai Fong

In addition to serving on DBS’ main boards, Mr Chng will also serve as a member of their Audit Committees and Nominating Committees.

The appointment is part of DBS’ Board renewal process which will also see three long-serving directors, Ms Euleen Goh, Mrs Ow Foong Pheng and Mr Andre Sekulic, stepping down as board members on 30 March 2021.

As a senior civil servant, Mr Chng is currently the Managing Director of Singapore Economic Development Board (EDB) and has held the post since October 2017. Prior to joining EDB, he was the Principal Private Secretary to the Prime Minister of Singapore.

Mr Chng currently serves on the boards of EDB Investments Pte Ltd, EDBI Pte Ltd, Manakin Investments Pte Ltd, Singapore Israel Industrial Research and Development Foundation (SIIRD), Singapore Symphonia Company Limited, and Agency for Science, Technology and Research (A*STAR). In addition, he is an Advisory Board Member of both Singapore Management University’s Lee Kong Chian School of Business, and Shell Gas & Power Development B.V.’s New Energies Advisory Board, and serves as a member of the Board of Trustees of Singapore University of Technology and Design.

Peter Seah, Chairman of DBSH and DBS Bank, said, “We are delighted to welcome Kai Fong to the boards. Kai Fong brings with him invaluable insights and points of view from the public sector. He joins us amidst an intense period of transformation for the Singapore economy where post the Covid-19 pandemic, we find ourselves having to further entrench our relevance in the global arena. I look forward to working with Kai Fong to deepen DBS’ global banking and digital leadership so that we can forge ahead as a purpose-driven bank to serve the needs of our customers and stakeholders.”

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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com

DBS names new Non-Executive Director to Board of Directors