DBS appoints Tam Thye Hung as Head of Global Transaction Services in Idonesia

Tam was previously the Senior Vice President of DBS’ GTS Regional Cash Sales team.

DBS Bank announced the appointment of Mr. Tam Thye Hung as the Head of Global Transaction Services in Indonesia, with immediate effect. Tam, who joined DBS in 2006, takes over from Mr. Stephen Lee Kiang Wah, who has been named Senior Vice President, Trade Product Management Team, GTS, based in Singapore.

Previously, Tam, a 25-year banking industry veteran, was the Senior Vice President of DBS’ GTS Regional Cash Sales team. Tam also spent over two years in Taiwan as the Head of GTS there. Prior to joining DBS, Tam spent several years at Deutsche Bank and Chase Manhattan, where he oversaw the cash management regional sales teams.

In his new role, Tam will lead a team to grow the cash management, trade finance and custody business in Indonesia, which is a key market for the GTS franchise. He will report to Ms. Lum Yin Fong, Group Head of Product Management at GTS and Mr. Ken Stratton, Managing Director and Global Head of Sales for GTS.

“Thye Hung has a wealth of experience, as well as strong customer insights and leadership skills. With Thye Hung leading the GTS business in Indonesia, a key market for DBS, I am confident he will help to take our business to the next level,” said Stratton.

In 2010, DBS identified GTS as one of the key strategic businesses for the group. Since then, the bank has launched an aggressive investment programme for the GTS franchise, to enhance its product offering, distribution capabilities and capacity to grow. At DBS’ recent mid-year results announcement, where DBS delivered record first-half earnings, GTS was identified as one of the fastest growing business segments, registering 37% year-on-year revenue growth.

Mr. Tom McCabe, Group Head of GTS at DBS said, “We have built incredible momentum across our businesses in the last year and will be investing heavily in Indonesia to continue that growth. I am thrilled to have a seasoned leader like Tam heading up our Indonesia franchise."

DBS’ GTS team in Indonesia is committed to developing innovative cash management, trade finance, custody and bespoke sophisticated system solutions for customers. Most recently, in March 2011, DBS introduced export factoring in Indonesia, making it the only bank to offer this solution in the market in more than a decade following the Asian financial crisis of 1997-1998. DBS Indonesia is also the first Indonesian member of Factors Chain International, a leading organisation for independent factoring companies with the largest factoring network in the world.

Over the last two years, DBS’ GTS team has picked up several industry accolades, accorded to the bank by leading trade publications. These include “Best Foreign Trade Finance Bank”, “Best Structured Trade Solution”, “Rising Star Cash Management Bank” in Indonesia as well as awards for Singapore such as “Best Transaction Bank”, “Best Cash Management Bank” and “Best Trade Finance Bank”. The bank was also highly ranked, alongside global banks, in Greater China and the Asia-Pacific region.