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UPDATE 1-Singapore DBS's consumer bank head to join Carlyle

Thu Mar 6, 2008 11:43pm EST
 
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(adds new DBS appointment)

SINGAPORE, March 7 (Reuters) - DBS Group (DBSM.SI: Quote, Profile, Research, Stock Buzz), Southeast Asia's largest lender, said on Friday it will lose its head of consumer banking Edmund Koh to U.S.-based private equity giant Carlyle Group [CYL.UL].

Koh, the head of regional consumer banking at DBS, will leave the bank on March 31, along with the chief operating officer of consumer banking Raymond Ang and regional head of strategy Chew Mun Yew, the Singapore bank said.

Koh's departure comes shortly after DBS named former Citigroup China chief Richard Stanley as chief executive. Stanley will take up his new position on May 1.

Jeremy Soo, who has been running DBS's consumer banking business in Singapore, will takeover from Koh, while Sunny Cheung will run the business in Greater China, a bank spokeswoman said. (Reporting by Koh Gui Qing and Saeed Azhar, editing by Neil Chatterjee)

 

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