In a time marked by seismic technological shifts and growing global uncertainties, institutions must not only adapt but lead.
This was the premise behind the fireside chat hosted by Singapore Management University’s (SMU) Overseas Centre Bangkok on 1 July 2025. Designed to expand institutional partnerships, embed SMU expertise in national conversations, and enhance the university's standing as a regional education leader, the event was part of a regular series convening senior leaders across Thailand.
The SMU Overseas Centre Bangkok regularly organises top leadership dialogues and sector-specific engagements, drawing on SMU’s strengths in business and management, law, technology, and sustainability. These events, held in Thailand, enable SMU to share valuable insights that contribute meaningfully to the development and enrichment of local communities.
At this latest edition, Mr Piyush Gupta, Chairman of the SMU Board of Trustees and former CEO of DBS Group, outlined his vision for leadership in 2030.
Themed “Envisioning Leadership in 2030”, the conversation — moderated by Mr Siradej Donavanik, Vice President of Global Development, Dusit International, and a member of SMU’s International Advisory Council (Thailand) — explored digital transformation, culture building, and organisational agility. At the heart of it all was one imperative: leadership must be designed for change, not comfort.
He opened by recounting the early days of his tenure at DBS, describing it as “a bank lacking comprehensive data, systems, and a shared culture.” Before strategy or vision, the first priority was getting the basics right: consolidating data, harmonising credit policies, and understanding who the bank’s customers were.
“How can you strategise if you don’t even know which branches are profitable, or who your customers are?” he asked. Without fixing the “plumbing,” he argued, no meaningful transformation could occur.
Leadership That Shapes Meaning
His leadership focused on three enduring responsibilities: setting strategic direction, establishing an operating rhythm, and fostering a strong culture. Strategy, he explained, is only effective if it is felt across all levels of the organisation.
He illustrated this with the NASA janitor anecdote: “What are you doing?” someone once asked. The janitor replied, “I’m putting a man on the moon.” That, he noted, was the power of strategic alignment, when everyone from leadership to the front lines sees their role as tied to a shared purpose.
Equally important, he said, is rhythm – a steady cadence of planning and review cycles. Culture, in his view, must go beyond being aspirational: it should actively shape how people behave and make decisions.
Building Culture by Design
“Good culture doesn’t come from posters on walls. It comes from behaviours we collectively create every day,” he said. To build that culture, he began by asking employees two questions: “What’s already good about DBS?” and “Who do we want to become next?”
The responses helped define DBS’s cultural DNA, captured in the acronym PRIDE:
P for Purpose
R for Relationships (collaboration)
I for Innovation
D for Decisiveness
E for Everything Fun
Purpose, he explained, came from the bank’s roots in nation-building: “If it was good for Singapore, do it.” He contrasted DBS’ collaborative spirit with the turf battles often seen in Western firms. While innovation and decisiveness were found lacking, “everything fun” was his own addition, a reminder that joy should be part of the workplace.
He brought this to life through systems like “MOJO” — a framework designed to make meetings more effective by pairing a Meeting Owner (MO) with a Joyful Observer (JO). The MO is responsible for the meeting, while the JO observes and offers constructive feedback, making meetings more purposeful by creating awareness of being observed. This was complemented by roles like “Fun Flow Managers” and behavioural nudges known as BEANs (Behaviour Enablers and Nudges), all aimed at fostering psychological safety and encouraging risk-taking.
Understanding Human Psychology
At the core of leadership, he argued, is understanding human motivation. He rejected the idea that older employees can’t adapt to digital change.
“We’ve all adapted in our personal lives. We use ride-hailing apps, online shopping, Skype. So why do we assume people can’t change professionally? The issue isn’t the people – it’s the environment.”
Through hackathons, hands-on training, and practical support, DBS enabled even veteran staff to re-skill, including learning programming languages like Python.
“If they can learn Python, why not?” he said. DBS’ ability to transform without mass layoffs was, to him, a point of pride. “We’ve never had to fire anyone,” he said. “People must believe they can do it and not fear trial and error.”
Customer Centricity as Strategy
His view of digital transformation goes beyond technology. The true shift, he said, was placing the customer at the heart of every decision.
“I’ve come to the conclusion that the customer comes first. Why? Because the best way to change the employee psyche – maybe not the most important, but the most effective – is by putting the customer at the centre.”
To embed that, DBS implemented journey mapping, embedded customer KPIs into performance reviews, and empowered frontline staff to make real-time decisions. One staff member who turned off a fraud-prevention mechanism to reduce ATM transaction time faced backlash but was publicly defended by him for prioritising the customer experience. It reinforced a culture that valued judgment and initiative.
Empowering Change
Ultimately, the session reinforced his belief that leadership today is about building adaptive organisations.
“I’ve shifted my focus to how you run as a company. You must be able to pivot rapidly in response to change. If you build, going back to the underbelly — if you build a foundation that allows flexibility, and you create operational models that allow you to adapt quickly, you'll be okay.”
To that end, DBS moved from a traditional hierarchy to a journey-based model, empowering small, cross-functional teams with data and ownership. This helped the bank respond to shifting consumer behaviour, emerging technologies, and market shocks.
“If you get the ‘how’ of management right, you can deal with a lot of uncertainty.”
In an era of flux, his message was clear: resilience is not a reaction, but a design principle.
In closing, the fireside served not only as a platform for Mr Gupta’s reflections, but also as an embodiment of SMU’s commitment to leadership education in Southeast Asia, catalysing conversations that connect insight with impact.
