Two Singaporeans make Forbes Asia’s “Power Businesswomen 2024 List” for trailblazing leadership roles

SINGAPORE: Two distinguished Singaporean women have earned a spot on the prestigious Forbes Asia Power Businesswomen 2024 list, recognized for their pioneering leadership in top roles within their respective industries.

According to a Singapore Business Review report, Tan Su Shan and Serena Teo Joo Ling have broken barriers as the first women to hold the highest offices in their organizations, setting new standards in the financial and real estate sectors.

Tan Su Shan

Tan Su Shan is Deputy CEO and CEO-designate of DBS Group, one of Southeast Asia’s largest financial institutions.

With an impressive 35-year career spanning consumer banking, wealth management, and institutional banking, Tan’s appointment underscores her strategic vision and deep expertise.

Before stepping into her current role, Tan led DBS’s consumer banking and wealth management businesses for nearly a decade, overseeing significant growth.

According to a Reuters report, under her leadership, DBS recently conveyed a remarkable $10.3 billion profit, marking a 26% year-on-year increase.

This stellar performance proves her ability to navigate complex financial landscapes and drive innovation.

Tan’s focus in the coming months will be to strengthen DBS’s technological capabilities. The bank has faced recent challenges with service disruptions, which led to regulatory scrutiny and senior management penalties.

As part of a broader tech resiliency initiative, Tan is expected to spearhead efforts to enhance the bank’s digital infrastructure and ensure more robust, reliable service for its customers.

In addition to her corporate achievements, Tan is also a prominent figure in Singapore’s civic landscape.

From 2012 to 2014, she served as a nominated member of parliament, bringing independent viewpoints to policy discussions.

Her extensive board experience includes advisory roles with the family office of Dyson founder James Dyson and as a director at Mapletree Pan Asia Commercial Trust.

Serena Teo Joo Ling

Serena Teo Joo Ling, the CEO of CapitaLand Ascott Trust (CLAT), has also been recognized for her trailblazing role in real estate management.

The CapitaLand website indicated that Teo took the helm of CLAT in July 2022 after a distinguished career in both the private and public sectors.

She joined CapitaLand Ascott Trust after more than 10 years at Ascendas Group, where she held several key leadership positions, including Head of Portfolio Management.

At CLAT, which manages an impressive $8.5 billion in assets across 102 properties in 16 countries, Teo has been instrumental in leading strategic initiatives to maximize asset value and drive growth.

Her leadership comes at a time of transformation for the real estate sector, where flexibility and innovation are paramount.

Before her career in real estate, Teo spent over a decade with Singapore’s Economic Development Board (EDB), contributing to the growth of Singapore’s semiconductor and electronics industries.

She also gained valuable experience in direct equity investments in sectors such as communications and logistics.

Teo’s ability to blend deep industry knowledge with a strong strategic vision has positioned her as a key leader in the region’s real estate landscape.

Breaking new ground for women in leadership

Tan Su Shan and Serena Teo Joo Ling are trailblazers for their remarkable individual achievements and for paving the way for future generations of women in leadership.

Their inclusion in Forbes Asia’s Power Businesswomen 2024 list is a well-deserved recognition of their groundbreaking careers and the positive impact they continue to make in their respective fields.

As they continue to lead with vision and determination, Tan and Teo are breaking glass ceilings and reshaping the leadership landscape in Singapore and beyond.

Featured image by Depositphotos (for illustration purposes only)