DBS capital markets head to hand reins to deputy
CAPITAL markets doyen Eric Ang will hand over the reins to his deputy, Eng-Kwok Seat Moey, come June 1, DBS Bank said yesterday.
Mr Ang, a career DBS banker of over 35 years and trailblazer in Singapore's capital markets, will stay on as senior executive adviser, it said.
He turns 62 soon.
In his new role, he will be principally responsible for business origination and high-level relationship building for the bank.
Under him DBS has consistently topped the Singapore capital market league tables.
Last year, the bank was ranked the top equity house in Singapore, with a 17.8 per cent market share. Bloomberg reported that it handled 21 issues and an underwritten amount of US$1.98 billion (S$2.5 billion).
As DBS head of capital markets and member of the bank's group management committee (GMC), Mr Ang pioneered several industry firsts.
These included being lead manager for the initial public offering (IPO) of Singapore Airlines, the first international offering by a locally incorporated company, managing SingTel's IPO, the biggest in the market at the time, as well as developing and launching Singapore's first real estate investment trust (Reit).
Mrs Eng-Kwok, known as the mother of Reits and who was appointed deputy head of capital markets in March last year, will be a member of the GMC in her new role.
THE BUSINESS TIMES