NEW DELHI: DBS’s India device has nominated its nose of administrative banks, Rajat Verma, to be the company’s new chief executive officer, two persons familiar with the matter said.
Surojit Shome, who has led DBS Bank India since 2015, will step down, according to sources, adding that his nomination has been made to the Reserve Bank of India ( RBI ).
Late on Tuesday ( Nov 12 ), DBS confirmed Shome’s retirement plans.
It stated that it was still waiting for the RBI to decide on the replacement and would announce its decision after regulatory certifications have been obtained.
The Indian Central Bank has review bank CEO appointments in total.
DBS did not elaborate on Shome’s successor.
Because the conversations were private, the publications chose not to be identified. A spokeswoman for Singapore’s biggest banks declined to comment, while Verma, Shome and the RBI did not respond to Reuters questions.
Verma was appointed last year as India’s administrative banks head and managing producer.
Before joining DBS, he spent more than 26 years at HSBC, where he was head of business banking in India, according to his LinkedIn page.
DBS, which has been operating in India for about three years, said last month it had more than 530 trees in 19 American states.