Citi MD Ravi Kapoor to retire next month; K Balasubramanian to take over

Post retirement, Kapoor will pursue entrepreneurial opportunities

Veteran dealmaker Ravi Kapoor, managing director and head of banking, capital markets and advisory, South Asia and India (BCMA), Citi, is set to retire next month.

K Balasubramanian, the head of corporate banking, South Asia, Citi, will replace Kapoor, according to a report in the Moneycontrol.

An official said, "Yes, Ravi Kapoor is retiring by mid-September. It's the end of an era, indeed. Bala will take over and also continue in his current role."

After retiring, Kapoor will pursue entrepreneurial opportunities.

Another official said that Kapoor was gearing up for an entrepreneurial play in the financial services space in his second innings.

Kapoor has over 35 years of experience in banking and capital markets, and has led several marquee deals across equity capital markets, debt capital markets, mergers and acquisitions, and acquisition financing.

Prior to joining Citi, he was the executive vice-president and head of equity origination and capital markets at DSP Merrill Lynch, India.

In 1988, Kapoor started his career with ICICI Ltd in the project finance division.

Balasubramanian has spent nearly 25 years at Citi and worked at the HDFC Bank as group head.