Citi appoints Balasubramanian as India head

Citi appoints Balasubramanian as India head

Global banking major Citi on Wednesday announced the appointment of K Balasubramanian as the head of India.

Balasubramanian's appointment as the India subcontinent sub-cluster and banking head is subject to regulatory approval from the Reserve Bank of India, an official statement said, adding that he will be reporting to head of Asia South Amol Gupte.

"India is one of Citi's largest markets globally where we have strong business momentum and we are confident Bala will build further on our leadership position in this key market," Gupte said.

The appointment has been necessitated because incumbent Ashu Khullar has been appointed as the co-head of Global Asset Managers (GAM). Khullar will be part of the investment banking global operating committee, as per a memo from Citi's head of banking Vis Raghavan and head of international Ernesto Torres Cantu.

"During Ashu's tenure from 2019-2025, Citi has recorded impressive all-round growth becoming the top investment bank across equity capital markets and merger and acquisitions (in 2024)," it said.