DBS has appointed Wallace Lam (pictured) as managing director and head of institutional banking group for Hong Kong. The appointment will be effective from 1 January 2023. Lam will also become a member of the DBS Hong Kong management committee.
DBS told MARKETING-INTERACTIVE that Lam is responsible for managing and growing the bank’s franchise in the large corporate and mid-cap businesses and SMEs in Hong Kong, as well as overseeing the strategic advisory and syndicated finance business. He will continue to expand the DBS Hong Kong franchise and grow their institutional banking group business, drive transformation and digital journey for their corporate customers. Lam will also take a lead in expanding their regional connectivity and enhancing the bank’s strategic capabilities.
Lam joined DBS in August 2021 as deputy head of institutional banking group for Hong Kong where he has overseen various collaborations across product groups and lines of business. Prior to DBS, Lam held numerous senior management positions at HSBC since he joined the bank in 1995, including head of corporate, commercial banking for Hong Kong, co-head of global banking for Hong Kong, head of client coverage for Mainland China and managing director and head of high yield capital markets and commercial banking debt origination of Asia Pacific.
Lam also succeeds Alex Cheung, who will retire at the end of this year. During Chung’s 13-year tenure at the bank, he has played an instrumental role in deepening the bank’s client relationships, expanding the institutional banking group business and fostering internal talent. Chung will work with Lam to facilitate a smooth transition.
Commenting on this appointment, Sebastian Paredes, chief executive officer of DBS (Hong Kong), said, “I would like to express my gratitude to Alex for his remarkable leadership and significant contributions over the years. I also wish to congratulate Wallace, whose extensive experience will be indispensable for driving the continued growth and digital transformation of the institutional banking group,”
Furthermore, Lam is a member of the supervisory board, the audit committee, and taskforce on financing of the Hong Kong Housing Society; member of the funds management sub-committee of the Hong Kong Housing Authority; executive committee member of the Hong Kong Institute of Bankers, as well as member of the career development advisory council of the Hong Kong University of Science and Technology Business School.
Recently, DBS Asia Capital, a leading equity house in Asia that provides equity funding solutions to DBS' corporate clients in the region and acts as an intermediary between issuers and investing clients, has appointed Lindsay Chu as its new chief executive officer. He is also the head of capital markets of DBS in Hong Kong and China and a member of the DBS Hong Kong management committee.
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