August 30, 2010
DBS consumer head resigns: sources
* Raju leaves bank after 11 years with DBS: sources, memo
* Departure comes after recent high-level hiring at bank
SINGAPORE - DBS's head of consumer banking, Rajan Raju, has resigned after spending 11 years with Southeast Asia's biggest lender, sources familiar with the move told Reuters on Monday.
Mr Raju, who joined Singapore's DBS from Citibank, will end his current role on Aug 31. His official last day is on Sept 30, according to a staff memo made available to Reuters.
His successor will be announced shortly, the memo said. DBS confirmed his departure.
CEO Piyush Gupta, who joined the bank in November from Citigroup, has made high-level changes at the bank as he tries to boost market share in Singapore and Hong Kong.
He hired Sebastian Paredes, a former Indonesia's Bank Danamon executive as head of its Hong Kong unit and named Sim S Lim, a former Citibanker, for a newly created post of country manager DBS Singapore.
'After almost 11 years with DBS, Rajan Raju, group executive, head consumer banking, has decided to pursue new opportunities outside DBS,' CEO Mr Gupta said in the memo.
The memo said that in the interim Linda Wong, Jeremy Soo and Domenic Fuda will assist in managing the consumer banking business.
Mr Raju was not immediately available for comment.
Source: REUTERS