In late March 2025, there was an extraordinary spectacle outside DBS’ headquarters. Hundreds of staff with placards and balloons lined up to see Piyush Gupta exit the skyscraper for the last time.
How did his departure come to stir up such emotion? It was not just because he had been chief executive for 15 years but more about how DBS had changed so much.
Gupta’s leadership of DBS has coincided with an era when banks from outside the large developed markets have come to the fore.
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