Saturday, April 11, 2009

Breaking News: DBS CEO Richard Stanley dies from Leukemia

I just received the news that DBS CEO Richard Stanley, 48, has passed away from Leukemia.

Earlier in the week, DBS Chairman Koh Boon Hwee has told media that Richard is coping well with the Leukemia treatments though it was also reported in the news that Richard's condition has deteroriated unexpectedly.
With Richard's passing, I believe average Singaporeans could only think of the very good income Richard draws per month as a CEO of a top Asian bank, rather than remembering his contributions to the development of the banking industry in Singapore. This view is not unexpected as the income divide between the rich and poor in Singapore is increasing.


Anonymous said...

Most likely he's remembered for axing 900 staff, biggest cut ever in bank history.

Singapore Short Stories said...

Ya, I remember this piece of news too.

Anonymous said...

Why shoot the messenger? The 900 staff were a legacy he had to live with - as were the boo-boos in Hong Kong for DBS.

Richard Stanley was upfront about meeting the customers' needs and doing all he could when the Lehman Mini-bonds (not DBS); and Hi-Notes debacle happened...let's remember his heart too!

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