(Reuters) – Singapore’s DBS Group said on Monday it has appointed Rajat Verma as chief executive officer of DBS Bank India, succeeding Surojit Shome, who would retire at the end of February.
Reuters had reported about Verma’s nomination in November and that the bank was awaiting the Reserve Bank of India’s approval on the successor.
India’s central bank must approve all appointments of bank CEOs.
Verma, currently the head of institutional banking group at DBS Bank India, has been appointed in line with approval accorded by the RBI, DBS said in its statement. His appointment is effective March 1, 2025.
Before joining DBS, Verma spent more than 26 years at HSBC, where he was head of commercial banking in India, according to his LinkedIn profile.
He will be part of DBS’ group management committee in his new role, Southeast Asia’s biggest bank said.
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Shilpi Majumdar)
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