NETS Appoints Jeremy Soo, DBS’ Managing Director and Head of Consumer Banking Group as New Chairman
Singapore, 30 August 2024 – Network for Electronic Transfers (NETS), Singapore’s leading payment services group, announces the appointment of Mr Jeremy Soo, Managing Director and Head of Consumer Banking Group at DBS Singapore as the Chairman of NETS with effect from 1 September 2024. He succeeds Ms Susan Hwee, who has been Chairman of NETS since 1 September 2021. Ms Hwee is the Head of Group Technology and Operations and will be assuming the position of Head of Group Retail from 1 September onwards at UOB.
The Chairmanship of NETS is rotated among the three shareholder banks, DBS, OCBC and UOB every three years.
Mr Soo comes with over 30 years of experience in the consumer banking and finance industry. He currently heads the DBS, POSB, Wealth Management networks and distribution, as well as the ATM / digital / mobile channels and all key consumer-related products and services in DBS.
As the driving force and backbone of the digital transformation behind the bank’s consumer banking business, he championed many first-in-market innovations, multiple ecosystem marketplaces and partnerships to fulfill the needs of customers seamlessly and enable more inclusive banking for all. They include the DBS/POSB Adopt-a-Hawker Centre and weekly hawker meal subsidies schemes which drove up the adoption of digital payments in hawker centres, wet markets and heartland shops. He is also a strong advocate for inclusive banking and through DBS/POSB, has worked with various governmental agencies to provide subsidised banking services to low-income, marginalised groups, as well as migrant workers, in Singapore.
Mr Lawrence Chan, Group CEO of NETS, shared, “We are honoured to have Jeremy lead the Board and look forward to leveraging his deep expertise in innovations and ecosystems to strengthen our leadership position in the payments space. In addition, we can benefit from his passion and experience in ensuring banking is accessible to all to further our purpose of connecting communities and empowering lives.”
The Board and Management express their sincere appreciation of Ms Hwee’s efforts and dedicated contribution during her tenure as Chairman at NETS.
“Susan has been instrumental in leading the team to navigate the dynamic and evolving payments landscape during her time. As digital payments accelerated and extended across borders post-COVID, her strong technology and operations expertise was pivotal in helping the Group build resiliency whilst also driving innovation to launch merchant solutions beyond payments. We thank her for the leadership and guidance over the past three years,” added Mr Chan.
