DBS has appointed Ajay Mathur new managing director and head of consumer banking group and wealth management operations in Hong Kong.

Mathur, who has over 20 years of extensive retail and wealth experience in Indonesia, Singapore and India, will assume the new responsibility with immediate effect.

He will report to DBS Hong Kong CEO, Sebastian Paredes. Mathur succeeds Royce Teo, who is returning to Singapore.

Before accepting the new role at DBS, Mathur worked as deputy CEO and director for ANZ’s retail and private banking business in Indonesia.

He started his banking career with Bank of America and subsequently joined ABN AMRO in India.

In 2008, he joined Royal Bank of Scotland in Singapore as executive director, head of retail and wealth. With the acquisition of Royal Bank of Scotland’s retail and wealth business by ANZ, Mathur joined ANZ in 2011.