DBS appoints Vivek Batra as global head of sales for transaction banking
Batra replaces Ken Stratton who has decided to go into semi-retirement after 32 years in banking.
DBS announced that Vivek Batra has been named the Global Head of Sales for transaction banking effective 1 January 2013. In this role, he will be responsible for top line revenue growth, all client facing activities of DBS’ global transaction services (GTS) team, and collaborating with the GTS product team on building new capabilities.
Batra joined DBS in 2005 and was most recently DBS' Head of Institutional Banking Group in India where he led the business with a revenue CAGR of about 75% over a period of about three years. He served as a member of DBS India’s Management Committee and was involved in the strategic leadership development and the growth of DBS’ India franchise. An alumnus of Indian Institute of Management Calcutta, Batra held positions in HSBC and Kotak Group prior to joining DBS.
Batra replaces Ken Stratton who has decided to go into semi-retirement after 32 years in banking and move back to his homeland of Australia. Stratton has managed transaction banking businesses across various regions, with positions in Tokyo, Hong Kong, New York, Sydney and Singapore, working for DBS, Citibank, JP Morgan, and Standard Chartered. Stratton will continue to work with DBS in the areas of product, sales and working capital management throughout 2013.
"I am thrilled that Vivek is joining the GTS business. He brings with him depth of expertise and has delivered impressive financial results at each stage of his career. I am certain that he will build upon the work that Ken has done and continue the spectacular growth trajectory that the business has achieved so far," said Tom McCabe, Managing Director of the GTS business at DBS. "All of us at DBS thank Ken for his contributions and congratulate him on the amazing achievements throughout his career.”
In 2010, DBS identified GTS as one of its nine strategic priorities. Since then, its GTS business has delivered sterling results, making it one of the major contributors of profits to the bank. During this time, its profits have nearly tripled and it now contributes over 21% of the bank’s profits, up from 9% in 2010.
Over the last two years, DBS’ GTS team has picked up over 70 industry accolades, accorded to the bank by leading trade publications. These include Best Transaction Bank for Emerging Corporates in the Asia Pacific, Best Foreign Treasury and Cash Management Bank in China, Top 5 Cash Management Banks in Asia, Best Trade Finance Bank in Singapore, Best Cash Management Bank in Singapore, Rising Star Treasury & Working Capital Bank for MNCs & Large Corporates in China, and Best Sub Custodian Bank in Singapore.