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Singapore’s DBS Group appoints Surojit Shome as India head

DBS Group Holdings, Singapore headquartered bank, has roped in Surojit Shome from Rabobank as chief executive officer for its Indian operations, according to a report by news agency Bloomberg citing the company.

Shome, who will assume the role of India head from April 15, will replace Sanjiv Bhasin, who had decided to step down from his position as India head to pursue different interests.

Shome had joined Rabobank in 2009 and resigned last week. The company has a non-banking finance company (NBFC) and an investment banking unit in India.

Previously, he worked with Lehman Brothers Holdings Inc. and at Citigroup Inc.

On the other side, Bhasin - who had started his career with HSBC’s India operations in 1979 - was CEO of Rabobank in India before he joined DBS India as CEO in September 2008.

Earlier this month, DBS Holdings announced quarterly results and posted its lowest quarterly profit in more than two years as it trading income slumped and allowances for bad loans surged in South Asia.

DBS had entered in India in 1995 and operates through 12 branches.

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