FT News Briefing Rolls-Royce flies high
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Mar 27, 2025 The U.S. is set to impose a hefty 25% tariff on foreign-made autos, shaking up the automotive industry. Meanwhile, Piyush Gupta is stepping down as CEO of Singapore’s DBS Bank, after a remarkable 16-year tenure. UK inflation has unexpectedly dropped to 2.8%, providing a glimmer of hope in economic challenges. On a high note, Rolls-Royce has experienced a substantial rise in share prices, largely thanks to strategic leadership from its new CEO, who has implemented transformative changes to revitalize the company.
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DBS Bank Transformation
- Piyush Gupta transformed DBS bank over 16 years, increasing shares by 300% and profits fivefold.
- He modernized the bank, expanded its customer base, and focused on wealth management, transaction services, and technology.
Jack Ma's Influence
- In 2014, a meeting with Jack Ma inspired Gupta to shift DBS's mindset.
- Instead of traditional banking, he adopted a tech-company approach, asking "what would Jeff Bezos do?"
Rolls-Royce Revival
- Rolls-Royce, known for aerospace and defense, faced challenges before Tufan Erginbilgic became CEO.
- Erginbilgic's leadership led to a share price increase of over eightfold since early 2023.