What challenges have DBS met while trying to encourage wider use of the yuan? How did you solve the problems?

It is always difficult to match both sides of your balance sheet in early days. We started off with a large amount of renminbi liabilities, not enough assets, and then slowly, as we started building out the international renminbi asset pool, we wound up with adequate liabilities. This always happens till the market grows in size.

The underlying problem is: How do you change people's psychology to re-denominate their activities from other currencies to renminbi?

I think it is quite important to continue to open up the flow from the offshore market into the mainland market to make sure the international market can continue to grow and thrive.

What is an effective leadership model for leading a company engaged in China business? How has your style of management changed over time in China?

My own leadership style is quite hands-on. I am quite detailed as a manager. But one of the big changes in leadership styles is as you lead the millennium generation, you cannot run with a command and control leadership style.

In the past, leadership used to be hierarchic. Today, everybody has access to information and therefore, you have to create a leadership style allowing a hundred flowers to bloom and different people to do different initiatives.

But you have to make sure that they are within well-defined markers and anchored by a strong culture.

How do you handle hardships and setbacks, if any?

Like everybody else, escape them (laugh). The reality is that there is no particular way of dealing with setbacks. Sometimes you need tenacity.

Other times you need to recognize that there has to be a different way of solving the problem, so you can go around the problem and attack it from a different direction. It depends on the circumstance.

What do you do after work?

I enjoy reading a lot and do a lot of social media, including WeChat, Facebook and WhatsApp. I play golf over the weekends. So I have a broad interest of activities and spend a lot of time with friends.

CV

Age: 55

Education: MBA from the Indian Institute of Management, Ahmedabad Bachelor of Arts (Honors) degree in Economics from St Stephen's College, New Delhi

Career: 2009－present: CEO and director of DBS Group, as well as director of DBS Bank (Hong Kong) Ltd and The Islamic Bank of Asia Ltd;

Prior to joining DBS: Citigroup's CEO for South East Asia, Australia and New Zealand.

Family: Married with two children