Romesh Sobti to leave ABN Amro, head DCB
Mumbai: Romesh Sobti, country representative of ABN Amro Bank, is said to be quitting Dutch bank ABN Amro. It has been rumoured that he will take over as managing director and CEO of the Development Credit Bank.

The considerably diluted role he is left with, following the international restructuring of the bank is said to be the reason for his move. Under the new structure at ABN Amro, Sobti was redesignated as country representative from country head earlier, with reduced responsibility. Under the new structure he would oversee the consumer and banking divisions of the bank, while earlier he had overall responsibility of the bank's operations in the country. Additionally, the earlier system of "geographical reporting" was changed to "product reporting", diminishing the importance of the country representative’s office.

On the other hand, the Development Credit Bank has chalked out aggressive plans in the country.

Sobti, who has been credited with ABN Amro's sterling performance ever since it began operations in the country --with over 35 per cent net profit running in the last two years, while other foreign banks have found it difficult to stay above water-- is expected to spearhead DCB to meet its goals.

DCB, with a paid-up capital of Rs 266 crores, has a 37 per cent stake from the Paris based Aga Khan Fund for Economic Development.
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