DBS announced today CEO Richard Stanley has been diagnosed with acute myelogenous leukemia and will be commencing medical treatment in Singapore immediately. Medical diagnosis confirmed that his form of leukemia is treatable and full remission is possible. Stanley is expected to take a leave of absence from the bank of about three to six months as he undergoes medical treatment.

While Stanley is away from work, with immediate effect, Chairman Koh Boon Hwee will work closely with the Management Committee and assume an active management oversight role. This is to ensure continued strong leadership. Koh is not new to this role as he previously acted in a similar capacity, having taken on an active management oversight role at DBS from September 2007 to April 2008, prior to Stanley's appointment as CEO.