Piyush Gupta: DBS's man on a mission
Piyush Gupta, the CEO of Singapore’s DBS, has grabbed a once in a lifetime opportunity to build the bank’s Asian corporate and investment banking franchise. Gupta has a world view and doesn’t shy away from airing his thoughts on top bankers, China’s $1 trillion NPL headache, the death of cross-border bank M&A and what global banks are getting wrong in Asia
Is DBS’s CEO, Piyush Gupta, the anti-Jamie Dimon? A spat between the CEO of southeast Asia’s largest bank by assets and his US counterpart last October pitted Dimon’s freewheeling Anglo-Saxon model of finance against Gupta’s very Asian style of banking.
At an Institute of International Finance meeting in Washington, Gupta took issue with Dimon’s unapologetic defence of global bulge-bracket firms.
“We have started this narrative that people hate banks…[but] our clients and shareholders are very happy with us,” the CEO of JPMorgan said, despite the regulatory maelstrom after the deposit-guaranteed lender was hit by a flurry of litigation and expenses.