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Piyush Gupta

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Piyush Gupta
BBM
पीयूष गुप्ता
Piyush Gupta in 2023
Gupta in 2023
Born (1960-01-24) 24 January 1960 (age 64)
Meerut, Uttar Pradesh, India
CitizenshipSingapore
Alma materSt. Stephen's College (BA)
Indian Institute of Management Ahmedabad (PGDM)
Occupations
  • Business executive
  • banker
TitleCEO of DBS Group
SpouseRuchira Gupta
Children2

Piyush Gupta BBM (Hindi: पीयूष गुप्ता; born 24 January 1960) is an Indian-born Singaporean banker[1] and the chief executive officer (CEO) of DBS Group, the largest bank in Southeast Asia by total assets.[2][3] He is vice-chairman of the Institute of International Finance, and a board member of Enterprise Singapore.[4]

Early life and education

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Gupta was one of three children, born in Meerut, India, to R.S. Gupta and Minnie Gupta. He attended St. Columba's High School and later earned a bachelor's degree in economics from St. Stephen's College, Delhi. After graduating, he joined the Indian Institute of Management, Ahmedabad for a Post Graduate Diploma in Management.[5]

Professional career

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Career

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In 1982 and at the age of 22, Gupta started his career at Citibank India as a management trainee.[6] He did several assignments with Citibank India, eventually being the chief-of-staff to the India head. He moved to Singapore in 1991 as the chief-of-staff to the Asia head, and was posted to Indonesia in 1998, as country manager. In 2000, he left Citigroup to start up a dot-com company, but closed his venture and re-joined Citigroup in 2001.[7] Gupta was country officer in Malaysia from 2002 to 2007, where he helped built up Citigroup's branch network, before assuming the role of country officer in Singapore and the head of the Corporate and Investment Bank in ASEAN. In 2008, Gupta was appointed the CEO of Citibank in South East Asia, Australia and New Zealand.

In 2009, he left Citigroup to join DBS Group as the CEO. As CEO, he received various business awards, and has been credited with growing DBS to become a leading Asian financial services group.[8][4] Early on in 2013, Gupta also realized that DBS needed to start thinking like big tech. "Our frame of reference had to be Amazon or Alibaba. We had to stop thinking about what other banks will do. We had to start thinking about what big tech will do."[9]

In 2018, Gupta addressed an audience of top business leaders at the Asia Leaders Series in Zürich, Switzerland, stating that "Few people have come to the recognition that Asia is no longer the factory of the world, it is the marketplace of the world." He then elaborated, "Anybody who wants to allocate capital and is not looking at riding on the Asian growth story over the next 10-15-20 years is really missing a big opportunity."[10]

In 2020, he led DBS to launch two new exchanges, and undertake two acquisitions.[11] Gupta has come out with the importance of future blockchain driven Web 3.0 world with the cautious conclusion at a panel discussion titled, Global Trends and Web 3.0 at the Singapore FinTech Festival in 2021.[12]

Now, the problem with Web 3.0 is when you take that argument to the next phase, it's not only the intermediaries you start questioning. You don't need a central bank. You don't need the regulators. And by the way, guess what, you don't need nation states. You don't need governments. And then you start getting into this thing that is not a question of technology. That's a question of social politics, and a question of philosophy. Do we as mankind prefer to live in a world where eight billion of us are individual agents, without any organising principles such as countries, states, central banks, regulators and boundary keepers? I would argue that it is very, very hard for us to get there.[12]

In 2024, he announced on August 7 that he would step down from his role on March 28, 2025. Tan Su Shan was appointed deputy CEO with immediate effect and will succeed him.[13]

Personal life

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Gupta enjoys reading and bird watching.[14] He plays golf and badminton, and does crosswords. He is an ambassador for CanKids India,[15] a non-governmental organisation that supports victims of childhood cancer. His wife, Ruchira, is a physiotherapist.

A long-time permanent resident of Singapore, Gupta was naturalized as a Singapore citizen in 2009.[16][17] Gupta also possesses an Overseas Citizenship of India, a form of permanent residency for former citizens of India.

References

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  1. ^ Chew, Hui Min (4 September 2020). "Ministers respond in Parliament to NCMP Leong Mun Wai's comments on not having 'homegrown' DBS CEO". CNA. Retrieved 9 January 2021. The current CEO of DBS, Piyush Gupta, was born in India and became Singaporean.
  2. ^ "Singapore's DBS names Citi's Piyush Gupta as CEO". Reuters. 1 September 2014. Archived from the original on 8 September 2009. Retrieved 24 January 2014.
  3. ^ "Asia-Pacific's 50 largest banks by assets, 2020". www.spglobal.com. Retrieved 9 January 2021.
  4. ^ a b "Piyush Gupta (高博德) | DBS Bank, Chief Executive Officer (CEO)". DBS. Retrieved 9 January 2021.
  5. ^ "DBS’s Piyush Gupta |Replicating a success story". Live Mint.
  6. ^ " Managing a Company With a Helicopter Vision ". The New York Times.
  7. ^ " Go4i CEO quits as management rethinks strategy " Archived 21 August 2014 at the Wayback Machine. Financialexpress.
  8. ^ "DBS: Driving growth in Asian banking". Singapore Business Review. 8 May 2013. Retrieved 24 January 2014.
  9. ^ "Awards for Excellence 2019: How Gupta turned DBS into the bank of the future". Euromoney. 10 July 2019. Retrieved 25 October 2021.
  10. ^ "Asia: Marketplace of the World". Asia Series Insights. Retrieved 19 September 2023.
  11. ^ "The world's best bank 2021: How DBS turned a crisis into an opportunity". Euromoney. 10 September 2021. Retrieved 7 January 2022.
  12. ^ a b "Singapore Fintech Festival: Global Trends and Web 3.0". Disruption Banking. 10 November 2021. Retrieved 14 November 2021.
  13. ^ "DBS chief Piyush Gupta to step down; Tan Su Shan to take the top job". CNA. Retrieved 7 August 2024.
  14. ^ " DBS chief urges grads to take risks". National University of Singapore.
  15. ^ CanKids Ambassadors Archived 21 August 2014 at the Wayback Machine. CanKids.
  16. ^ "NEWSMAKER - DBS taps Citi banker Piyush Gupta for Asia push". Reuters. 1 September 2009. Retrieved 30 April 2022.
  17. ^ Oh, Tessa (5 September 2020). "Iswaran rebukes NCMP Leong Mun Wai for comments on DBS CEO not being 'homegrown'". Today (Singapore newspaper). Retrieved 30 April 2022.
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