SINGAPORE – DBS Group Holdings has hired Sarah Tsao from UBS Group in a senior role, according to people with knowledge of the matter.
Ms Tsao will join DBS to cover government-linked corporations in Singapore, encompassing Temasek, GIC and their subsidiaries, the people said, asking not to be identified discussing confidential matters. She is due to start at the Republic’s biggest lender in early 2026, they said.
A DBS spokesperson confirmed Ms Tsao will be joining the bank. UBS declined to comment.
UBS appointed Ms Tsao as head of global banking for Singapore only in April 2025. From July 2016 until then, she was the bank’s South-east Asia head of corporate finance in the investment banking division, her LinkedIn profile shows.
Ms Tsao has also worked at Temasek, Goldman Sachs Group and ANZ Group Holdings.
DBS is among Asia’s largest wealth managers, alongside the likes of UBS and HSBC Holdings. The bank saw a double-digit rise in wealth management fees in the last quarter, and assets under management hit a record.
Its biggest shareholder is Temasek, which is reorganising its $434 billion portfolio as part of an overhaul aimed at sharpening its focus.
Its assets will be split into three key subsidiaries from April 1, one of which will focus on its Singapore-based portfolio companies. BLOOMBERG
