Tan Su Shan, the Chief Executive Officer of DBS Group, has been named the most powerful woman in business in Asia for 2025 by Fortune. This recognition comes shortly after she took the top position at Southeast Asia's largest bank in March, making her the first woman to lead the financial institution.
Her appointment and this ranking highlight a significant milestone in Asian corporate leadership. Tan also secured the No. 6 position on the global Most Powerful Women list, underscoring her influence in the international financial sector.
Key Takeaways
- DBS CEO Tan Su Shan has been ranked No. 1 on Fortune's 2025 Most Powerful Women Asia list.
- She is the first woman to lead DBS, the largest bank in Southeast Asia with over $600 billion in assets.
- Tan's career includes senior roles at Morgan Stanley and Citi Private Bank before her ascent at DBS.
- The ranking also features leaders from Luxshare, Huawei, and HKEX in its top positions.
Tan Su Shan Leads Prestigious Ranking of Asian Businesswomen
In the second edition of the Most Powerful Women Asia list, Tan Su Shan's leadership at DBS placed her at the forefront of influential female executives in the region. The list, which includes 100 leaders, recognizes women who are shaping business and finance across the continent.
Following Tan in the ranking are other prominent figures. Grace Wang, CEO of electronics manufacturer Luxshare, is ranked second. Meng Wanzhou of Huawei holds the third position, and Bonnie Chan, CEO of Hong Kong Exchanges and Clearing (HKEX), is fourth.
Tan's top ranking in Asia is complemented by her strong showing on the global stage. Her No. 6 position on the international list places her among the world's most influential business leaders, reflecting the growing prominence of DBS and the broader Asian financial market.
Top Women in Asian Business
The top four positions on the 2025 Most Powerful Women Asia list are:
- Tan Su Shan, CEO of DBS Group
- Grace Wang, CEO of Luxshare
- Meng Wanzhou, Rotating Chairwoman of Huawei
- Bonnie Chan, CEO of HKEX
According to reports, Tan is scheduled to attend the annual MPW Summit in Washington, D.C., where she will join other global leaders to discuss pressing economic and business issues.
DBS: From National Development to Regional Powerhouse
Tan Su Shan's leadership role is at a bank with deep historical roots and significant modern influence. DBS, originally known as the Development Bank of Singapore, was founded by the Singaporean government in 1968.
Its initial mandate was critical to the nation's early development. Established just three years after Singapore's independence from Malaysia, the bank was tasked with providing long-term financing for essential industrial and infrastructure projects that were vital for the young country's survival and growth.
The Evolution of DBS
From its origins as a government-backed development bank, DBS has transformed into a multinational banking and financial services corporation. Today, it stands as a dominant force not just in Singapore but across Southeast Asia, with a significant and growing international presence.
The scale of DBS today is vast. The institution operates in 19 countries and employs approximately 38,000 people. Its financial footprint is equally impressive, with the bank managing assets valued at more than $600 billion.
As CEO, Tan is responsible for navigating this large organization through a complex global landscape. In a recent interview, she highlighted the significant challenges posed by artificial intelligence, cryptocurrency, and shifting geopolitics. She reportedly told her workforce to "buckle up" in preparation for a tumultuous year.
A Career Defined by Leadership in Asian Finance
Tan Su Shan's journey to the top of DBS is built on decades of experience in the competitive world of Asian banking. Her career began after she earned a degree in politics, philosophy, and economics from Oxford University.
She started her professional life at the Singapore office of Morgan Stanley, where she focused on investment banking and wealth management. This early experience laid the groundwork for her future specialization.
Later, she joined Citi Private Bank, where her career accelerated. She rose through the ranks to become the head of private banking for Singapore, Malaysia, and Brunei. During this time, she developed a reputation as one of the most skilled and knowledgeable private bankers in Asia.
Tan's expertise in wealth management proved transformative for DBS. Under her leadership, the bank's private banking division grew to become the largest in Asia, a key achievement that preceded her appointment to the CEO role.
Her deep understanding of wealth management and investment banking has been instrumental in DBS's strategy. Now, as the head of the entire organization, she is tasked with applying that strategic vision across all of the bank's diverse operations, from retail banking to corporate finance.
Navigating Future Economic Challenges
In her new capacity as CEO, Tan is steering DBS through a period of rapid technological change and economic uncertainty. Her focus on AI, digital assets, and geopolitical risk reflects the primary concerns facing the global banking industry.
The rise of artificial intelligence presents both opportunities for efficiency and significant operational risks. Banks are increasingly using AI for everything from customer service to fraud detection, but they must also manage the complexities of implementation and regulation.
Similarly, the cryptocurrency market remains a volatile but important area for financial institutions. Major banks like DBS must develop strategies to engage with digital assets while navigating an unclear and evolving regulatory environment.
Geopolitical tensions add another layer of complexity, affecting global supply chains, investment flows, and economic stability. For a bank with operations in 19 different markets, managing these cross-border risks is a critical component of its strategy. Tan's leadership will be central to how DBS addresses these multifaceted challenges in the years ahead.
