Hong Kong

DBS Hong Kong appoints Wallace Lam as Managing Director and Head of Institutional Banking Group

DBS Bank (Hong Kong) Limited has announced the appointment of Wallace Lam as Managing Director and Head of Institutional Banking Group, Hong Kong, with effect from 1 January 2023. He will also become a member of the DBS Hong Kong Management Committee.

Since joining DBS last August as Deputy Head of Institutional Banking Group, Hong Kong, Wallace has overseen various collaborations across product groups and lines of business. Prior to DBS, he held numerous senior management positions at HSBC, including Head of Corporate, Commercial Banking, Hong Kong; Co-Head of Global Banking, Hong Kong; Head of Client Coverage, Mainland China; and Managing Director and Head of High Yield Capital Markets and Commercial Banking Debt Origination, Asia Pacific.

Wallace will succeed Alex Cheung, who will retire at the end of this year. During Alex’s 13-year tenure at DBS Hong Kong, he has played an instrumental role in deepening the Bank’s client relationships, expanding the Institutional Banking Group business, and fostering internal talent. Under his leadership, the Bank has grown into one of Hong Kong’s largest corporate and institutional banks by revenue, and was recognised as the Best Bank in Hong Kong. Alex will work with Wallace to facilitate a smooth transition.


Sebastian Paredes, Chief Executive Officer of DBS (Hong Kong) Limited, stated, “I would like to express my gratitude to Alex for his remarkable leadership and significant contributions over the years. I also wish to congratulate Wallace, whose extensive experience will be indispensable for driving the continued growth and digital transformation of the Institutional Banking Group.”


Wallace is a member of the Supervisory Board, the Audit Committee, and Taskforce on Financing of the Hong Kong Housing Society; member of the Funds Management Sub-Committee of the Hong Kong Housing Authority; Executive Committee Member of the Hong Kong Institute of Bankers as well as member of the Career Development Advisory Council of the Hong Kong University of Science and Technology Business School.

Wallace graduated from the Haas School of Business, University of California at Berkeley, USA, holding a Bachelor of Science Degree in Business Administration with double emphases in Finance and Marketing.