DBS has named Nitin Chengappa, previously with Standard Chartered, to run its wealth operations in India.
Bloomberg sources said Chengappa joined in July and reports to Ambuj Chandna, who oversees consumer banking for DBS in India.
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DBS Bank India told the news publication that Chengappa joined as managing director and head of its Treasures business and wealth management.
According to his LinkedIn profile, Chengappa worked for almost 10 years at Standard Chartered in India, most recently as head of affluent distribution and branch network. Before that, he spent more than 10 years at HSBC.
DBS expanded its presence in India in 2020 through the takeover of Lakshmi Vilas Bank, marking the first occasion on which Indian authorities relied on an overseas bank to rescue a troubled domestic lender.
Last year, DBS Bank India named Rajat Verma as chief executive officer, with effect from 1 March 2025. He succeeded Surojit Shome, who retired on 28 February 2025.
Verma has close to 30 years of banking experience across consumer and corporate banking, sustainable finance and SME banking. Since arriving at DBS in mid-2023, he has led the IBG division, broadening client ties and moving into additional business segments.
Earlier in his career, Verma was managing director and country head of commercial banking at HSBC India.
Last month, DBS disclosed plans to open 18 wealth centres across Asia by the end of 2027, while also refurbishing 36 existing locations over the next 18 months.
Those additions and upgrades are planned for Singapore, Hong Kong, mainland China, India, Indonesia and Taiwan.
