Morgan Stanley has lost one of its most senior wealth management executives in Asia for the allure of spearheading DBS Bank’s regional growth ambitions in private banking.

Date: April 9, 2010

Tags: Morgan Stanley, DBS Bank, Su-Shan Tan, Singapore

Morgan Stanley has lost one of its most senior wealth management executives in Asia for the allure of spearheading DBS Bank’s regional growth ambitions in private banking.

From July 1, Su-Shan Tan will be managing director and head of private banking at DBS – a role which also encompasses asset management.

The announcement of her hire comes just two months after DBS chief executive officer Piyush Gupta outlined the bank’s strategic roadmap – including, as a core focus, trying to position itself through its wealth management proposition to take advantage of the growing middle class and rising prosperity in Asia.

When she starts in her new position at DBS, 42-year old Tan, a mother of two and a high-profile industry figure in south-east Asia, will also be a member of the group management committee, reporting to Gupta.

At Morgan Stanley, Tan most recently ran the private wealth management businesses in south-east Asia and Australia, after rejoining the US bank in May 2008 following a stint at Citi Private Bank as region head for Singapore, Malaysia and Brunei.

In her new regional role at DBS, Tan succeeds Amy Yip, who remains as chief executive officer of DBS Hong Kong.