DBS Bank has promoted Tam Thye Hung to head of global transaction services (GTS) in Indonesia.

In his new role, Tam will lead a team to grow the cash management, trade finance and custody business in Indonesia − a key market for the GTS franchise, DBS says.

He will report to Lum Yin Fong, group head of product management for GTS and Ken Stratton, managing director and global head of sales for GTS.

Tam will replace newly-promoted Stephen Lee Kiang Wah, who is now senior vice-president of the bank’s trade product management team, GTS, in Singapore.

Tam was previously the senior vice-president of DBS’ GTS regional cash sales team and also spent over two years in Taiwan as the head of GTS.

Before that, he spent several years at Deutsche Bank and Chase Manhattan, where he oversaw the cash management regional sales teams.