DBS has announced a number of senior appointments in its global transactions services (GTS) unit with effect from August 1, with the retirement of John Laurens, the bank’s group head of GTS.

Lim Soon Chong, currently group head of product management for the GTS business, will take over Laurens’ role, while keeping his responsibilities as head of digital for DBS’ institutional banking group. Lim joined DBS in 2006 and has held roles including group head of investment products and advisory for DBS’ consumer banking and wealth management business.

Meanwhile Sriram Muthukrishnan (pictured), who joined the bank in November 2018 from HSBC and is currently DBS’ group head of GTS trade product management, will assume Lim’s former position.

Since joining DBS, Muthukrishnan has “led a complete turnaround of the bank’s trade finance and supply chain finance business – placing it amongst the global leaders in terms of profitability, growth, innovation and digitalisation”, DBS says in a statement. In his new role, he will take the lead for the bank’s cash and trade products and services across the region for both large corporates and small businesses.

“Sriram’s extensive experience in corporate, institutional and transaction banking functions across the world’s leading financial hubs including Singapore, Hong Kong, Dubai and India places him in good stead to drive DBS’ market leadership in our cash and trade businesses,” says Lim. “We remain committed to efforts to rotate our senior leaders around different functions and markets to hone their business acumen and technical skillsets to ensure they are well equipped to navigate the challenges and opportunities of tomorrow.”

The bank says that to ensure a smooth transition, Laurens will remain as a senior advisor until December 31.