(Singapore) – South East Asia’s biggest bank, DBS Group Holdings, has changed CEO after only 18 months in the job by the present incumbent.Jackson Tai has replaced Philippe Paillart, who reportedly has taken the fall for several PR flops by the Group during his tenure and reportedly did not fix the friction existing between himself and his American deputy Tai, who takes up the role from Chief Operating Officer June 30.
Paillart’s departure is seen as giving Tai a stronger hand to grow the Bank’s regional franchise.