ISLAMIC BANK OF ASIA NAMES TOBY O’CONNOR AS
CHIEF EXECUTIVE OFFICER

***

Appointment underscores bank’s commitment to growing its
Islamic banking franchise in the region

SINGAPORE, 3 May 2011 - The Islamic Bank of Asia (IB Asia) today announced the appointment of Toby O’Connor, 45, as its Chief Executive Officer.

O'Connor will lead the growth of IB Asia by ramping up investment banking, especially capital markets and private equity, in line with the bank’s renewed focus on fee-income businesses.

Prior to joining IB Asia, O'Connor was most recently a Managing Director and Head of the Middle East and North Africa Sovereign Wealth Funds and Financial Sponsor group for Investment Banking at JP Morgan Chase & Co,. Over his 19-year career at J.P. Morgan, O'Connor worked in increasingly senior product and client coverage roles in Investment Banking in Mergers and Acquisitions, Capital Markets and in the Financial Sponsor private equity area.

Since 2007, he has been a part of J.P. Morgan's leadership team in the Middle East region based in Dubai and London. He was responsible for growing the business of Middle East region Sovereign Wealth Funds, investment companies, and financial sponsors. This includes mergers and acquisitions, initial public offerings, ratings advisory, bond and bank financings, restructuring, derivatives and capital raising.

Eric Ang, Director of IB Asia, who oversaw the bank's business in the interim, said: “We are very pleased to have Toby on board. IB Asia is committed to growing our Islamic banking franchise in Asia with a focus on investment banking and private equity. With Toby’s extensive investment banking experience and deep-rooted relationships in the Middle East, he is well-placed to bring IB Asia to the next level.”

O’Connor graduated from Dartmouth College in the United States with a Bachelor’s degree in Government. Prior to joining J.P. Morgan in 1992, O'Connor attended the Royal Military Academy Sandhurst and served for three years with the Irish Guards. He is a British Citizen and is married with five children.

About The Islamic Bank of Asia
Incorporated in May 2007 with DBS Bank and prominent investors from the Gulf Cooperation Council (GCC) countries as shareholders, The Islamic Bank of Asia (IB Asia) combines banking expertise and insights of Asia with strong Islamic banking credentials to tap into opportunities within Asia and the Middle East. Headquartered in Singapore, IB Asia focuses on Shariah compliant capital markets, direct investment and corporate banking services To find out more about IB Asia, log on to www.islamicbankasia.com.

About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank’s strong capital position, as well as “AA-” and “Aa1” credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance‘s “Safest Bank in Asia” accolade for two consecutive years, in 2009 and 2010.

DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 17,000 plus staff, representing over 30 nationalities. For more information, please visit www.dbs.com.