Rajat, who was formerly with HSBC as the MD and country head of Commercial Banking, India, will be succeeding Niraj Mittal, as head of institutional banking. Mittal will be taking up a new role as country head of DBS Bank in Australia.
Rajat will lead the growth of the institutional banking franchise for DBS Bank in India given the significantly expanded footprint of the lender. DBS Bank India said that Rajat’s appointment strengthens its leadership team and commitment to grow institutional banking business.
Commenting on Verma’s new role, Surojit Shome, Managing Director and CEO of DBS Bank India said, “He (Rajat Verma) is a seasoned banker with a proven track record of delivering value to institutional clients across diverse sectors and markets. His appointment reinforces our commitment to growing our business in India.”
Under Rajat’s leadership, the bank aims to strengthen in digitalisation and deliver better value for its customers, he added.
DBS ranks among the largest foreign banks in India. Meanwhile, Singapore’s biggest bank is also trying to expand DBS franchise in Australia, with the appointment of Mittal. The former head of institutional banking for India will also look to improve linkages with South-East Asia and South Asia.