Citi India elevates Arjun Chowdhry as head of its consumer banking biz

Chowdhry will manage the domestic retail banking, wealth management, credit cards, loans and mortgages

Citi India has elevated Arjun Chowdhry as the head of its consumer banking business wherein he will manage the domestic retail banking, wealth management, credit cards, loans and mortgages.

The appointment is effective January 8, the local unit of the American banking major said in a statement on Monday.

Chowdhry will join the Asia consumer leadership team, ensuring alignment with global and regional priorities.

He will report to Citi India Chief Executive Officer Ashu Khullar and the banking major's head (APAC and EMEA retail ranking) Fabio Fontainha, the statement added. APAC stands for Asia-Pacific, while EMEA expands into Europe, Middle East, and Africa.

Chowdhry joined Citi as a management associate and has held diverse roles, starting with consumer operations, moving to wealth management, NRI (non-resident Indian) and deposit products, credit cards, loans and payments.

Citi India leads among foreign banks in wealth management in terms of assets under management (AUM).

The bank has been de-focusing on branch expansion for long and moving towards digital banking, which has led to as much as 75 per cent of its consumer banking customers accessing their accounts online or through mobile app.