DBS has a new MD in Singapore. He’s rather green, all things considered
ESG isn’t what it used to be. Since the election in the US, environmental priorities have been on the back foot; the net zero banking alliance, which involved nine American and European banks, shut down last year, for example. Luckily, some parts of the world seem to be still holding the good fight to heart.
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Thaddeus Tien joined DBS Bank in Singapore this month as global head of the firm’s energy, renewables, and infrastructure banking team. Tien joined the Singaporean bank from Natixis, which he joined less than a year and a half ago. Tien was at Barclays in Singapore for nearly a decade before that.
Tien’s role at DBS was previously held by Kelvin Wong, who became DBS’s chief sustainability officer (CSO) in May. Curiously, DBS’ previous CSO, Helge Muenkel, left DBS (and Singapore) to become head of climate & nature at Australian bank ANZ. Plenty of career opportunities ahead.
Tien will likely be pretty busy at DBS. The bank has been pushing into energy transition finance since it pledged in 2021 to cut its thermal coal exposure to zero by 2039. It’s even called itself the “transition bank of Asia”, which is exciting.
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