As part of changes to the organizational structure within the consumer banking franchise in Singapore, DBS Bank has appointed Edmund Koh as head of Singapore Consumer Banking. Koh, who joined DBS Bank in May last year, will be directly responsible for the Singapore consumer banking franchise.
Previously, Koh had responsibility for personal banking, priority banking, distribution channels, deposits and loans products. His added responsibilities now include credit cards, investment, insurance and banking products and private banking. He will report to Jackson Tai, chief executive officer of DBS Bank, who oversees the regional consumer banking business.
The new organization structure comprises of four business segments - POSB, DBS, DBS Treasuries and DBS Private Banking. Elsie Foh, who along with Lam Siok Loon will provide support to Koh in his new role, will head the four business segments.
Foh was previously head of personal banking. Lam will have responsibility for growing the POSB segment in order to strengthen DBS' relationships with POSB customers.
Through the changes to the organizational structure, DBS expects to align its consumer businesses more efficiently and thereby better leverage both the POSB and DBS brands. Furthermore, enterprise banking will become a separate business unit headed by managing director, Hong Tuck Kun, who will report directly to Tai.
The enterprise banking team will cater to the banking and financial needs of the small and medium enterprises. DBS Asset Management will become part of the wholesale banking business group headed by senior managing director Frank Wong.