Eng-Kwok Seat Moey has been named head of capital markets at DBS Bank, replacing Eric Ang, a 35-year veteran of the Singapore bank, who is set to take on an advisory role.
Eng-Kwok formerly takes up the position on June 1, after serving a year as deputy head of capital markets, DBS said in a statement.
More than 70 people work in equity capital markets at DBS, spread across Singapore, Hong Kong and Indonesia, and all will now report to Eng-Kwok, a spokeswoman for the bank said.
Eng-Kwok, who has been with DBS for over 15 years and is based in Singapore, will report to chief executive Piyush Gupta.
She joined the bank in 1998 as a result of DBS' acquisition of POSB Bank of Singapore, where she worked as a vice president in its asset management business.
Eng-Kwok was involved in the first property securitisation in Singapore, which took place in 1999, and was also involved with the team that structured the city-state’s first real estate investment trusts (Reits).
More recently, Eng-Kwok headed DBS’ advisory and corporate finance teams and oversaw execution of all equity transactions, including corporate fundraising, Reits/business trusts, and initial public offerings of shares. She also spent the last year integrating the bank’s ECM and asset-backed structured products groups.
Ang has spent his entire career at DBS, joining in 1978. He became head of capital markets in 1995 and has held the position ever since. During his 30-year career, Ang and his team worked on a number of important transactions, including Singapore Airlines’ IPO and SingTel’s floatation.
In his new role as senior executive advisor, Ang will focus on business origination and relationship building. He also joins the board of the DBS Foundation, which was set up a few months ago with S$50 million ($40 million) to invest in the city-state as well as the broader region.
He also serves on a number of other boards, including DBS Asia Capital, DBS Vickers Securities Holdings, Hwang-DBS Investment Bank and the Islamic Bank of Asia.