MUCH has been said about who will next helm Singapore's largest local bank. The rumours have surfaced and the speculations have made its rounds in corporate Singapore.

Almost every discussion about who the new DBS CEO will be has involved two names: ex-Standard Chartered Bank banker Mike DeNoma and Fullerton Financial Holdings chief executive Francis Rozario.

The two man, both in their 50s, are familiar with corporate, retail and investment banking. They were both tipped for the position after former CEO Jackson Tai stepped down, but then the late Richard Stanley got the nod instead.

It is unlikely that both men, while extremely qualified bankers in their own right, will be taking up the much-watched seat, however.

Sources have pointed out Mr DeNoma is not exactly considered a "top choice" by the board at this point in time, while Mr Rozario is likely to stay on at Fullerton.

There have been other names mentioned as well, such as Mr Piyush Gupta, who heads South-east Asia and the Pacific region for Citigroup.

Close colleagues of Mr Gupta's believe that he is unlikely to leave — despite the departure of Mr Ajay Banga, the former head of Citigroup's Asia-Pacific operations. Mr Banga left the US bank to take the number-two job at Mastercard. Mr Gupta and Mr Banga enjoyed a "good working relationship", a banker said.

Another name has now surfaced: Mr Peter Seah, now in his early 60s. The ex-Overseas Union Bank (OUB) banker is still very much "in the know" in the business scene.

He serves on many boards including that of the Government of Singapore Investment Corporation, Siam Commercial Bank and Bank of China.

According to sources, there has been some "pressure" on DBS chairman Koh Boon Hwee to find a new CEO soon.

Mr Koh is the interim CEO, but this "cannot be a solution for the long run", they argue. In any case, Mr Koh recently reiterated that he has no intention of taking up the post himself.

At a results briefing this month, Mr Koh said: "Our CEO search is progressing well, but for now you're stuck with me." And then he later added: "Why would you want to be CEO when you can be the chairman?"

So, what does Mr Seah bring to the table?

Certainly he is very qualified and one of Singapore's most respected bankers. Politically too, he represents a "good choice", a source said.

He was formerly OUB's CEO, but left and opted for "early retirement" from OUB about eight years ago, following the takeover by United Overseas Bank.

Bankers who have worked with Mr Seah, an ex-Citi banker, say that he is "serious man", and extremely passionate about his job and whatever he sets out to achieve.

They remember that he broke down and wept openly at OUB's last shareholder meeting during the whole takeover saga. This was a bank that he built up to become one of Asean's biggest.

But will Mr Seah say "yes"? Well, it partly depends on what his role is. Does Mr Koh want him to be CEO or to take on a "caretaker role" until a suitable candidate is found? It remains to be seen.

In fact, some industry watchers have pointed out that it is interesting that Mr Seah is being approached.

They recall that even before former DBS CEO Philippe Paillart left, there were rumours of Mr Seah being mentioned as the likely candidate to replace Mr Paillart.

At that time, Mr Seah was reported as declining to comment on the matter as he "had not heard of the market talk".

Certainly, there are many questions to be asked. Still, even as the bank goes about its business, it remains to be seen how its courtship of Mr Seah will eventually pan out.