Mumbai, Sept 22 (ANI/Business Wire India): Ashish Bajaj has been appointed Head of Citi's Commercial Banking and Global Subsidiaries business for South Asia.
In this role, he will lead unified client coverage across Small and Mid-Market Enterprises and subsidiaries of global corporates in India, Bangladesh and Sri Lanka. Ashish will closely work with relevant product teams to oversee the coordination and delivery of all of Citi's relevant financial products and services into Citi's corporate and consumer bank client base.
Ashish will continue to report to Sanjay Nayar, CEO of South Asia. Additionally, he will report to Farhan Faruqui, Asia Pacific Head of Corporate and Commercial Banking.
"Our Commercial Banking business in South Asia is very successful and we believe Ashish is the right person to build on that. There is tremendous opportunity in this space especially as customers look for sophisticated and global banking solutions," said Sanjay Nayar.
Ashish is a 21-year Citi veteran and has worked in several senior positions in New York, London and India. He has built up a wealth of experience in the Cash Management and Trade businesses since he joined the Bank in 1987. From 2003, he has been heading Global Transaction Services (GTS) for South Asia and under his leadership; the GTS business has grown six-fold in as many years.
"Ashish's new role reflects the growing opportunities we see in helping our clients in South Asia expand into newer markets and tap new growth opportunities by offering them access to the full suite of Citi's capabilities," said Farhan Faruqui.
Citi has operated in India for more than 100 years and was the first bank to set up its Commercial Banking Business in 1998 as a dedicated strategic business unit focused on emerging local corporates. T
Today, Citi India has a SME balance sheet size of over US 2 billion dollar. The bank has over 22,000 clients and a pan-India footprint of 28 cities. The asset portfolio is concentrated on industries like chemicals and pharmaceuticals, automotive components and engineering goods, apparel, home furnishing, and leather goods (footwear and accessories).