The financial services industry in Asia Pacific has undergone a generational transformation over the past two decades. At the centre of that change stands Piyush Gupta, whose tenure as Group CEO of DBS Group has helped redefine the purpose, architecture and influence of modern banking. In recognition of his extraordinary contributions to the industry, Gupta was named the recipient of the 2025 William “Bill” Seidman Award for Lifetime Achievements in Leadership in the Financial Services Industry. Conferred by TAB Global, the award celebrates those whose body of work has left a measurable and lasting impact on the financial sector. The ceremony held in Singapore brought together peers, partners and colleagues to mark the occasion, but also to reflect on the principles and philosophies that shaped Gupta’s leadership. A human approach to leadership What emerged from the tributes was a portrait of a leader whose most defining quality was not authority, but authenticity. In a candid dialogue during the event, Gupta reflected on his personal journey with refreshing directness. “I have never tried to be anything other than authentic,” he said. “What you see is what you get. I talk to everyone on the street. I have always tried to lead the same way.” That clarity of self—free of pretence or hierarchical detachment—resonated with those who worked alongside him. His leadership style was never built on titles, but on trust. It was an approach that extended to how he responded to the challenges of his later years in office, including the well-documented technology outages that DBS faced. “Some of the biggest disappointments came from the tech outages,” he acknowledged. “When you let down trust—it hurts. The buck stops with me. If you take the upside, you must also take the downside.” That level of ownership defined how Gupta navigated both the peaks and pitfalls of his tenure. It was not simply about performance; it was about accountability. Elevating technology into institutional identity Among the many strategic transformations that Gupta drove, none were more visible or consequential than the bank’s shift into technology-driven banking. Under his leadership, DBS evolved from being a solid regional player into what many now regard as a benchmark for digital transformation. That recognition came not only from within the financial industry but also from the technology sector itself. Jason Cao, CEO of global digital finance business group, representing long-time strategic partner Huawei, spoke at length about what distinguished DBS under Gupta’s leadership. “DBS did not just implement technology—it integrated it into its DNA,” Cao said. “It became a benchmark not only in banking, but in digital transformation across industries. That kind of shift requires more than strategy. It requires leadership.” Gupta understood that becoming digital was not about buying technology—it was about reshaping mindset, architecture and talent. DBS built its own platforms, hired engineers, embedded agile workflows, and reimagined customer journeys. It was not digitisation—it was reinvention. Building a culture of challenge and courage One of the most powerful voices during the event was that of Tan Su Shan, who has since succeeded Gupta as Group CEO of DBS Group. Her reflections on his leadership carried added significance, not only as a tribute from a peer, but as a continuation of the legacy he leaves behind. “He taught us not to think like a Singapore bank,” she said. “He challenged every assumption. He asked us to question every negative wreckoon—every wrecked convention we were holding onto.” Gupta’s use of the term “wreckoons” became symbolic of his constant push to question the status quo. Under his leadership, the organisation evolved from compliance-driven stability to a place where experimentation, failure and innovation were part of the culture. That shift required not just boldness from the leader, but courage from those around him. Tan’s rise to the top job marks both continuity and evolution. Her remarks reflected a deep appreciation for what Gupta built—not just in terms of strategy, but in terms of people. Translating vision into systems Transformational leadership is not just about vision—it’s about turning vision into frameworks. Few understood this better than Chng Sok Hui, long-time Chief Financial Officer of DBS. Her remarks revealed the degree to which Gupta drove not only ideas, but execution. “He said, ‘Give me DVC 2.0. Show me the horizontal profit and loss (P&L),’” she recalled. “Nobody does that. But we made it happen—because he believed it was possible.” Her reference to DVC, or digital value capture, pointed to a key element of the DBS strategy under Gupta: proving that digital transformation delivered real business value. Gupta pushed his teams to go beyond adoption and into measurement, linking digital engagement to returns on equity, customer satisfaction, and productivity. It was a signal to the entire organisation: digital wasn’t a trend or an overlay—it was the engine of value creation, and it had to be proven, not presumed. The influence beyond borders The impact of Gupta’s leadership has been felt well beyond DBS or Singapore. Ti Eng Hui, CEO of Baiduri Bank in Brunei, offered an external perspective on what that transformation looked like from the region. “Twenty years ago, DBS was just another Singapore bank,” he said. “Today, it’s the leading bank in Southeast Asia. That kind of transformation doesn’t happen by accident. It happens because of leadership.” His comments reflected what many in the region acknowledge: that Gupta helped elevate the credibility, scale and ambition of banking in Southeast Asia, while positioning DBS as a leader not just locally, but globally. A final reflection on purpose When Gupta accepted the award, he chose not to speak about milestones or metrics, but about meaning. His remarks were a reflection not only on his own journey, but on the value of the profession itself. “Banking is still a noble industry,” he said. “We help people save. We help the poor build wealth. We finance homes and small businesses. That’s something to be proud of. That’s why I hve done this for 43 years—and why I’m so honoured by this moment today.” It was a reminder that despite the complexity and criticism that often accompany banking, its highest purpose remains rooted in service, impact and inclusion. A legacy that endures The ceremony may have marked the end of Gupta’s formal role as DBS CEO, but it was far from the end of his influence. For those in the room—and for many more across the industry—his leadership represents a rare combination of intellect, vision and humility. His successor, Tan Su Shan, now steps into a role already reshaped by ambition and transformation. And while the next chapter of DBS will be hers to write, the pages already turned under Gupta’s watch will continue to guide, challenge and inspire. In an age of disruption, Piyush Gupta’s legacy is not in how loudly he spoke—but in how deeply he led.
