DBS CEO makes over S$6 million after disposing 100,000 shares

SINGAPORE: DBS Group chief executive officer Tan Su Shan has sold 100,000 shares in the bank through the open market, according to a filing by the lender.

Tan disposed of the shares on May 15 at $60.12 each. Following the transaction, her stake in DBS declined from 0.052% to 0.048%.

The share sale came weeks after DBS posted earnings of $2.93 billion for the first quarter ended March 31, 2026, representing an increase of 1% year-on-year and 24% quarter-on-quarter.

At a results briefing on April 30, DBS chief financial officer Chng Sok Hui said the bank had a “good shot” at keeping its earnings near FY2025 levels despite ongoing market uncertainties.

DBS shares regained the $60 level on May 14 after beginning the year at $56.40 and opening at $60 on Jan 29. As of May 18, the stock closed at $60.76, giving Singapore’s largest bank a market capitalisation of $172.81 billion.

Tan, who officially succeeded long-serving CEO Piyush Gupta on March 28, 2025, received total remuneration of $9.6 million in 2025.

Her pay package included a base salary of $975,250, a cash bonus of $3.7 million, deferred awards worth $4.9 million, and $68,694 in non-cash benefits such as club, car and driver privileges. DBS said around 17% of the deferred awards would be paid in cash, with the remainder issued in shares.

Tan graduated from Oxford University in 1989 with a Master of Arts degree in Politics, Philosophy and Economics.

She began her career in institutional equity and derivative sales at ING Baring Securities before joining Morgan Stanley as an executive director in 1997. In 2005, she moved to Citigroup, where she served as regional head for Brunei, Malaysia and Singapore.

Tan later returned to Morgan Stanley in 2008 as head of private wealth management for Southeast Asia.

She joined DBS in 2010 after being approached by Gupta, who had recently taken over as CEO and persuaded her to join the bank.

When announcing her appointment as successor to Gupta in 2024, DBS said Tan emerged as the strongest candidate among both external contenders and a pool of internal candidates who had undergone an extended leadership development programme aimed at preparing them for the top role.