Citibank has named Ashu Khullar, currently head of Asia-Pacific capital markets origination, as its India head with effective from April 1. The bank said the appointment is subject to RBI approval.
Khullar succeeds Pramit Jhaveri, who will become the vice-chairman of banking, capital markets and advisory for Asia Pacific from April 1. Both will report to Francisco Aristeguieta, CEO of Citigroup Asia Pacific.
Khullar, a graduate from the Indian Institute of Management, Ahmedabad, is a career Citibanker, having worked with the organisation since 1988. He started his career in India before moving to London and then to Hong Kong. Khullar has varied experience in banking, especially in investment banking, and held a range of senior management positions in the European as well as Asia operations of Citibank.
Jhaveri, acting as the interim CEO, left the India head position on January 31 after leading the operation since April 2010. He was appointed as the interim CEO till March to identify his successor. Jhaveri will not be succeeding anyone as a special position has been created for him in the Asia Pacific region.
A similar post was created for North America earlier. Like Khullar, Jhaveri is also a career Citibanker since 1987 when he was recruited from the campus.
India’s largest foreign bank, Citi, with ~1.64 trillion loan assets as on March 31, 2018, caters 2.5 million customers through 35 branches.