DBS Group Holdings Ltd. saw its net profit exceed $10 billion for 2023, surpassing its medium-term target. CEO Piyush Gupta's variable pay was cut by 30% due to last year's digital banking disruptions ...
DBS: Singapore’s biggest bank cuts executive pay after outages
The boss of Singapore's biggest bank DBS has seen his bonus cut by 30% after disruptions to its digital services, despite it posting record profits. The company said the cut to Piyush Gupta's variable ...
CapitaLand Investment increases capital deployment momentum with four acquisitions in Southeast Asia and closes core logistics fund in Japan
Transactions in Singapore and Thailand are expected to more than double CLI’s funds under management in Southeast Asia to S$1.2 ...
Can Singapore Emerge as the Premier Global AI Hub? Perspectives from a Google Exec
Google Cloud’s managing director for global AI business and applied engineering, Caroline Yap, has underscored Singapore’s remarkable potential as a global AI hub, attributing it to a conducive ...
Singapore’s DBS bank cuts CEO’s pay by $3 million. Why this is significant
DBS Group slashed its CEO Piyush Gupta's pay by S$4.1 million ($3.05 million) citing digital banking disruptions last year. This matters as the 30 per cent reduction in his annual variable compensatio ...
Best Fixed Deposit Rates in Singapore (Feb 2024)—Rates Up To 3.9%, Minimum Deposits From $500
If you think that fixed deposits are only for conservative cash-rich aunties and uncles, think again. A fixed deposit (also known as a time deposit) account is a type of bank account that pays account ...
More than 500 employees bid farewell to former UOB chairman Wee Cho Yaw at bank
Retired renovations contractor Ong Ang Hui, 77, who was in a wheelchair, took the train and bus to the venue. The Toa Payoh resident was a Chung Cheng High School student for a few months in 1964 ...
UOB holds sombre memorial for former CEO and chairman Wee Cho Yaw
SINGAPORE: Around 500 UOB employees and members of the public attended a memorial for former chairman and CEO Mr Wee Cho Yaw on Wednesday (Feb 7). Dressed mostly in black and white, the crowd filled ...
A final farewell to banking tycoon and former UOB chairman Wee Cho Yaw
UOB employees turned up in the hundreds on Wednesday (Feb 7) as they bade a final farewell to the bank’s late former chairman Wee Cho Yaw, who died last Saturday at the age of 95. Read more at The ...
DBS boss Piyush Gupta takes US$3 million pay cut over Singapore digital banking disruptions
Gupta’s compensation took a 30 per cent hit due to last year’s disruptions that affected payment and ATM transactions across the city state.
How UOB’s Wee Cho Yaw nailed the biggest bank takeover of his career
But it was the bank's takeover of OUB in 2001, the biggest acquisition of Wee's career, that remains UOB's most famous to date -- partly due to the parties involved, partly because it offered the ...
UOB Kay Hian raises Parkway Life REIT’s target price to $5.07
UOB Kay Hian's Jonathan Koh has kept his "buy" call on Parkway Life REIT following its FY2023 results. And with steady distribution growth ahead, he has raised his target price to $5.07 from $4.84.
Biggest Singapore Bank Cuts CEO’s Pay By Millions After Outage Hits Profit
DBS Group Holdings Limited's fourth-quarter profit came in short of analyst expectations amid signs of pressure on margins. And while 2023 results hit a record, Chief Executive Officer Piyush Gupta's ...
The CEO of Southeast Asia’s largest bank is taking a $3 million pay cut because of broken digital banking services
DBS reported record full-year profits on Wednesday, but also slashed the pay of senior executives following several major disruptions to online services.
Singapore’s GIC makes senior leadership changes, appoints new COO
Singapore sovereign wealth fund GIC's current deputy chief operating officer Sam Kim will be appointed as COO as part of a wider senior leadership changes, it said a statement on Wednesday. GIC, one ...
Singapore-based DBS Group cuts CEO Piyush Gupta’s variable pay by 30%
This decision by DBS Group to cut its CEO's compensation comes despite the bank reporting a two percent increase in net profit to S$2.39 billion in the quarter ending December 31.