Former DBS CEO Piyush Gupta appointed chairman of Temasek India
Mr Gupta will take on the role from Dec 1.
DBS CEO Piyush Gupta speaks during a Reuters Newsmaker event in Singapore on Sep 14, 2023. (File photo: Reuters/Mindy Tan)
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SINGAPORE: Former DBS CEO Piyush Gupta has been appointed chairman of Temasek India.
Mr Gupta, who retired from his post at the bank in March, will take on the new role from Dec 1, said Temasek in a press release on Friday (Nov 28).
As chairman, Mr Gupta will work closely with Mr Ravi Lambah, head of the Temasek India team and head of strategic initiatives, on investment strategies.
He will support Temasek's portfolio companies as they identify opportunities in India, and also "take on an institutional focus for Temasek by engaging with the Indian government and business communities".
In January, Temasek said it was stepping up the pace to grow its US$40 billion India portfolio and would invest US$10 billion in the country over the next three years.
During his time as DBS CEO, Mr Gupta had led the bank's digital transformation and regional expansion for it to become one of the world’s best banks, said Temasek.
“Piyush brings extensive business insights and strong connections developed over decades in financial services,” said Temasek Holdings CEO and executive director Dilhan Pillay.
“Complementing Ravi’s leadership of our India market, he will provide strategic counsel and help strengthen our institutional networks in India and beyond, enhance our franchise value, and expand our portfolio access.”
Mr Gupta said he was honoured with the opportunity to work with the Temasek India team.
“Having been engaged with the Temasek ecosystem for many years, I look forward to collaborating with the team to deepen partnerships, pursue new opportunities, and contribute to Temasek’s continued growth in India,” he added.
Mr Gupta is currently the deputy chairman of Keppel, chairman of the board of trustees of Singapore Management University and chairman of Mandai Park Holdings board.
He holds various other appointments, including being a board member of the Ministry of Trade and Industry's The Future Economy Advisory Panel.
He was Citibank's CEO for South East Asia-Pacific before being appointed DBS CEO in 2009.
