This is the first time a Singapore-headquartered bank gets represented in IIF.
In a release, the Washington-based Institute of International Finance (IIF) announced that Mr. Piyush Gupta, Chief Executive Officer and Director of DBS Group Holdings and DBS Bank, has been elected a member of the IIF’s Board of Directors. This marks the first time an executive from a Singapore-headquartered bank has been appointed to the IIF Board, and underlines Asia’s rising importance and DBS’ growing stature on the global banking stage.
The IIF is the leading global association of financial services firms with more than 450 member institutions headquartered in over 70 countries. Members include most of the world’s largest commercial banks and investment banks, as well as a growing number of insurance companies and investment management firms. Among the Institute’s Associate members are multinational corporations, trading companies, export credit agencies and multilateral agencies.
The IIF’s head office is in Washington DC, USA and in late 2009 it opened an Asian Regional Office in Beijing, China. The IIF undertakes extensive global economic research on behalf of its members and takes leading roles on key international financial regulatory issues for its members in dialogue with the Financial Stability Board, the Basel Committee on Banking Supervision and other official institutions. It also engages in policy analysis and discussion with such institutions as the International Monetary Fund and monetary authorities in many countries. By organising many meetings and conferences throughout the year, the IIF provides
many opportunities for effective dialogue among policymakers, regulators and private sector financial institutions.
Said Gupta, “The IIF is an important organisation whose work is central to the health and stability of the international financial system. Given Singapore’s status as a leading financial centre, one which has consistently punched above its weight in the global community, we should have a meaningful influence on key matters affecting our industry. As the largest bank inSingapore and a leading bank in Asia, DBS is pleased to lend our weight towards this, particularly as Asia increasingly makes its presence felt on the world stage as an economic powerhouse.”
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