Head, Group Legal and Compliance DBS Bank
DBS Bank was established in 1968 as a development financing institution and is now a full-service bank with the largest network of branches in Singapore and further branch networks in Hong Kong, Indonesia, China and India. It is a specialist in banking in Asia, and is active in the corporate, retail and investment fields. It is also one of Singapore’s main sources of medium and long-term financing. DBS also has international branches or representative offices in countries such as Japan, Korea, Malaysia, Myanmar, the Philippines, Taiwan, Thailand, UK, the US and the Middle East. DBS Bank is held by DBS Group Holdings Ltd, one of the largest companies in terms of market capitalisation on the Singapore Exchange.
Sharon Craggs is managing director and group head of legal, compliance and secretariat of DBS Bank. In this role she has recently been involved in numerous high-profile transactions. Highlights include the successful pricing of an international offering of US$900 million floating-rate subordinated notes due in 2021.
Craggs obtained her law degree from Cambridge University and is qualified to practise law in England and Wales, New York State and Singapore. She joined DBS from JPMorgan after serving as the head of compliance for South and South-East Asia, Asia regional compliance head for global markets, and regional regulatory counsel for Asia. During her tenure Craggs was heavily involved in the legal, regulatory and compliance aspects of the mergers of Jardine Fleming, JPMorgan and the Chase Manhattan Bank in South and South-east Asia. Prior to joining JPMorgan, Craggs worked with the Monetary Authority of Singapore. She is a chartered financial analyst and a board member of the Chartered Financial Analyst Singapore Society.
Role: Head, Group Legal and Compliance
Company: DBS Bank
Just as with private practice, it’s important to figure out what your [in-house] client’s needs and objectives are and to address them.
It’s the same quick pace and demanding turnaround, but you are much closer to the entire deal flow, not just the legal aspects.
We have lists of preferred external counsel, by jurisdiction.
Based on feedback from our business people, lawyers and other professionals on the ground.
Singapore has an efficient infrastructure, robust telecommunications tools and a sound, corruption-free administration and government.
We are in the part of the business cycle where there is plenty of business activity. Right now it would be maintaining quality and standards, given the volumes.