Derrick Goh will assume the newly created role of Group Chief Operating Officer; and Koh Kar Siong will take over as Group Head of Audit.

DBS Group Holdings has made two new appointments to its senior leadership which will take effect from April 1 — Derrick Goh will assume the newly created role of Group Chief Operating Officer; and Koh Kar Siong will take over as Group Head of Audit. 

The bank’s current Group Head of Operations, Jimmy Ng will retire from his duties with effect July 1. 

This comes after deputy CEO Tan Su Shan’s comments on Feb 10 during the bank’s results briefing, in which Tan said it should be no surprise for the bank to announce leadership successions in the coming weeks. 

“We've been grooming our internal slate of succession quite thoughtfully over the last 10 to 15 years. So when we make these announcements, [it] shouldn't really be any surprise to anyone internally, and we should keep the stability of the management and the way we manage in our operating process,” she says during the briefing.

Goh, who is presently Head of Group Audit, will take on the newly created group COO role, overseeing operations and transformation group. He will join the Group Executive Committee. 

Goh has been with the bank since 2008, and held roles such as Head of POSB and Consumer Banking Group (CBG) distribution in Singapore. He has also been the regional COO, and Chief Financial Officer of Institutional Banking Group. 

Koh, who will assume Goh’s previous role, is presently the Group Head of Corporate and SME banking. He has been with the bank since 2003 and held roles in CBG and Wealth Management. He was also previously Head of CBG in China. 

Shares in DBS closed 11 cents higher or 0.245% up at $44.96 on Feb 12.