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DBS appoints Shantanu Sengupta as consumer banking head for India

Singapore-based banking group DBS has appointed Shantanu Sengupta to head its consumer banking unit in India, it saidon Tuesday.

Sengupta will replace Rahul Johri, who has been in the position since 2008 and will be moving out of the company.

Sengupta will report to Surojit Shome, chief executive of DBS Bank India and Pearlyn Phau, DBS Bank's deputy group head of consumer banking & wealth management, the statement said.

Prior to joining DBS, he has the head of retail banking in India for Royal Bank of Scotland. He has also worked with ABN Amro Bank, Citibank and Bank of America in his earlier stints.

DBS has seen a slew of top level movement with the bank hiring Surojit Shome from Rabobank as India CEO replacing Sanjiv Bhasin who went on to join Centrum Capital as MD and CEO in June.

DBS Bank India is one of the many foreign entities that have seen their fortunes shrinking in the country. The bank saw a major erosion of its asset base last year with total assets coming down by almost 70 per cent in 2014-15 as compared to the previous year.

There have been a string of leadership changes in the banking sector. Standard Chartered last month hired Zarine Daruwala from ICICI Bank as its India CEO. Deutsche also had conducted a management rejig earlier this year by appointing Gunit Chaddha as Asia Pacific CEO, while Naina Lal Kidwai had announced that she would step down as chairperson of HSBC India.

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