- | 3:30 pm
Rajat Verma make take over from Shome at DBS Bank India
Verma, who was appointed DBS managing director and head of institutional banking for India last year, is expected to replace Surojit Shome
Singapore-based DBS Bank has nominated head of institutional banking Rajat Verma as the new chief executive officer (CEO) at its Indian subsidiary, Reuters reported, citing two people familiar with the matter.
Verma, who was appointed DBS managing director and head of institutional banking for India last year, is expected to replace DBS Bank India managing director and CEO Surojit Shome.
Verma spent more than 26 years at HSBC, where he was head of commercial banking, before joining DBS, his LinkedIn profile showed.
Shome will retire on 28 February 2025, the lender informed the exchanges on Wednesday, adding that it is currently awaiting RBI approval on the successor and will make an official announcement once regulatory approvals are in place.
DBS Bank has been present in India for three decades, opening its first office in Mumbai in 1994.
Following a successful career at the helm of DBS Bank India since April 2015, Shome had indicated his desire to retire some time back and has worked with the DBS Bank India board and DBS Group management to identify potential successors, the lender said in a statement.
India’s central bank must approve all appointments of bank CEOs.
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