DBS announced the appointment of Rajat Verma as Chief Executive Officer (CEO) of DBS Bank India, effective March 1. Verma, currently Head of Institutional Banking Group (IBG) at DBS Bank India, will succeed Surojit Shome as CEO upon the latter’s retirement on February 28. In this new role, Verma will be part of DBS’ Group Management Committee.

A seasoned banker, Verma has a 27-years of experience across consumer and corporate banking including transactional banking, financial institutions, sustainable finance, micro and SME banking, as well as branch banking.

Since joining DBS as Head of IBG in June 2023, Verma has significantly grown the business across all client segments. Prior to joining DBS, he was Managing Director and Country Head of Commercial Banking at HSBC India.

“A banking veteran, Rajat has solidified our India IBG business since joining in 2023. With our platform, DBS is well-positioned to continue participating in the India growth story over the coming years. I am confident that Rajat will build on what has been accomplished and take the business to the next level,” said Piyush Gupta, CEO, DBS.