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Ex-Standard Chartered Exec to Lead DBS India Wealth
4 Aug
Summary
- Nitin Chengappa hired by DBS to manage India's wealth operations.
- Chengappa previously led affluent distribution at Standard Chartered.
- DBS aims to expand wealth centers across Asia by 2027.
Nitin Chengappa has been appointed by DBS Bank India to head its wealth management operations in the country. Chengappa, who previously held a senior role at Standard Chartered, joined DBS in July and reports to Ambuj Chandna, who oversees consumer banking for DBS in India. His appointment comes as DBS continues to strengthen its presence in the Indian market, notably following its acquisition of Lakshmi Vilas Bank in 2020.
Chengappa brings extensive experience, having spent nearly a decade at Standard Chartered India, most recently as head of affluent distribution and branch network. Prior to that, he had a significant tenure at HSBC. This strategic hiring is part of DBS's larger Asia-wide expansion plan, which includes establishing 18 new wealth centres by the end of 2027 and refurbishing 36 existing locations over the next 18 months. These developments are planned across key markets such as Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan.
