DBS said in a statement on Sept 1 Gupta, who is a Singapore permanent resident, spent over two-thirds of his 27-year career in Southeast Asia and Hong Kong, including eight years in Singapore. His appointment is subject to regulatory approval, and he will join the bank in November.

Gupta, is currently Citi's CEO for Southeast Asia-Pacific, covering Asean, Australia, New Zealand and Guam. His responsibilities encompass all of Citi’s businesses including financial markets, corporate and investment banking, transaction services, credit cards, retail banking and wealth management.

"Gupta’s broad-based banking experience, spanning frontline and support functions, positions him well to grow DBS’ franchise," DBS said.

It said Gupta has successfully managed businesses in good and challenging times, and is a seasoned Asia hand, having previously held leadership positions as country manager of Citi in Singapore, Indonesia and Malaysia. He is also known for being a well-rounded leader, who is equally comfortable with high-level strategy and hands-on operating details.

DBS said Gupta's wide experience included serving on the Indonesian Government’s Debt Restructuring Committee, Foreign Banks’ Association in Indonesia and the Boards of AMCHAM Malaysia and Singapore. He is a past Chairman of the Financial Services Committee of the US-ASEAN Business Council, and currently serves on the Group of Experts to the ASEAN Capital Markets Forum.  

DBS chairman Koh Boon Hwee described Gupta as a "versatile and experienced banker" who has spent the last 20 years in Southeast Asia and Hong Kong, including eight years in Singapore. Piyush is strategic, yet detail oriented; and has the ability to nurture high-performing teams.