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DBS Results Out

DBS CEO Richard Stanley dies from leukemia infection
Posted: 11 April 2009 1149 hrs

	Photos 1 of 1 Richard Stanley
	<> Related News • Medical condition of DBS CEO Richard Stanley deteriorates

SINGAPORE: The chief executive of Singapore's DBS Bank Richard Stanley has died from an infection resulting from being treated for leukaemia.

He was 48.

Mr Stanley was diagnosed with acute myelogenous leukaemia, a cancer of the blood and bone marrow, in late January and had been responding well to treatment.

Responding to queries from Channel NewsAsia, DBS said after a brave fight with the disease, Mr Stanley died on Saturday morning at 8.45.

His immediate family was by his side as he slipped away peacefully.

Mr Stanley leaves behind a wife and three children.

DBS said its staff are deeply saddened and that its thoughts and prayers are with his family during this time of bereavement.

In a late night statement on Friday, DBS said Mr Stanley's condition took a sudden turn for the worse.

It said after two rounds of chemotherapy earlier this week, his doctors believed his cancer was in remission.

But his condition deteriorated rapidly on Friday.

DBS said the unpredictability of the disease has led to severe complications due to infection.

Mr Stanley had been on a leave of absence for 3-6 months since he was diagnosed with leukemia.

During the Lunar New Year earlier this year, Mr Stanley had sought treatment for what appeared to be ordinary flu-like symptoms after experiencing a cough and high fever.

According to doctors, this type of cancer can affect people across all age groups.

Symptoms of the disease include tiredness, bone pains, fever and bruising.

During Mr Stanley's absence, his duties at DBS are being covered by the bank's chairman Koh Boon Hwee.

Mr Koh had acted in a similar capacity previously when he took on an active management oversight role in DBS from September 2007 to April 2008, prior to Mr Stanley's appointment.

At the company's annual and extraordinary general meeting on April 7, Mr Koh had told shareholders that Mr Stanley was on track to return to work.

Mr Stanley headed Citigroup's China operations before joining DBS in May last year.

Before that, he had spent 18 years of his banking career in Asia. - CNA/vm

Ha ha, last GInt, AK was there as well, may knocked to u also dun know. Had rcv d rpt, didn't rd. AGM 10 am leh, got lunch liao. May be got ticket to IR inauguration cemry n casino chips. Die die must go liao.

Laulan      ( Date: 08-Apr-2009 10:29) Posted: Today's AGM is in the afternoon? Enjoyed the nice lunch I had at Genting Int's AGM last year, so thought DBS might be giving us some interesting lunch too before the meeting, but at 2.30pm we have to. makan sendiri before attending AGM? So Kiam Siap, meh?

AK heartfelt appreciation and thankyou for all d concern. My mum diagnosis not out yet. She is at d Health Care home at Ipoh, Perak, Msia. My younger bro is there to take care of d situation. Will go back if needs arises. There are few specialist centre there but most of them not cheap ones. But there are specialist at Gov hosp as well, as Ipoh is d state district of Perak.

Incidentally, my mother-in-law will be coming down fr Labis, near Segamat, Johor, to JB District hosp 4 follow-up heart artery blockage treatment. I think Biosensor's stuff had made d first artery got thro' last 2 mth. Two to go. If she go private clinic then, 10 over k for opt, but shock to know that gov charged her only 250 RM, including logging n meals. And yet Opt dun lose to d private ones. 

God bless liao.

Sorry, just back fr kopitiam. Last nite much burdened by sis called that poor mum got suspected cancer at age of 85 n wife mentioned that mother in law would be coming down to JB for 2nd opt for heart blockage illness. Nonetheless AK views below, wild guesses only. No call for anything.

In US,the government's handling of the problems at Bear Stearns and the Lehman Brothers collapse in 2008, as well as the AIG affair lately , were severely complicated by the lack of a clear administrative procedure for dealing with such situations. Of course, u may make some on Citi n AIG lately, but no greedy.

At local, DBS had secured its opt cap based lately, n MFTs pointed out that UOB may follow suit.

Couples with d imminent Plastic issues with all banks, in global, what u think on banks future, at current buoyant credit crisis environment??? Go for tour at Aussie or learning to cook are better choices liao.  

Chua_01      ( Date: 22-Mar-2009 16:54) Posted: Uncle AK, do you mind.? buying a drink no problem , hehehe iPunter      ( Date: 22-Mar-2009 16:14) Posted: I think Uncle AK can help to answer that... :) But after that, make sure you buy him a Carlsberg, OK?... hehehe...