atans1

DBS: Heads must roll

In Banks, Corporate governance on 07/07/2010 at 5:44 am
As the inquest into the breakdown of DBS Bank’s network continues, it appears that the bank’s showing fell short of the reliability benchmarks laid out by the Monetary Authority of Singapore reports BT.
The head of IT is an FT ,and the head of Consumer Banking and a previous head of IT is an FT, “Weath Destroyer” Rajan.
If DBS fell short of MAS’s benchmarks, home-grown, true blue S’porean, Peter Seah, chairman of DBS, should axe these heads to show that FTs too have to be accountable in DBS, and to “encourage the rest”
Then, with the blood flowing on the floor,  DBS would be a screaming buy.
Update
BTW OCBC (FT CEO, but taz abt it) and UOB (proudly “home-grown” with some FTs) have not had a systems failure on this scale. Shows the lie to the “FT is best” policy, neh?
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