Ravi Kapoor to retire from Citi, K Balasubramanian to take over role as South Asia BCMA head

Ravi Kapoor

Veteran banker Ravi Kapoor will be retiring from Citi as the Banking, Capital Markets and Advisory (BCMA) Head for South Asia and India after 18 years, the company said in a release on August 22.

“Ravi Kapoor, who headed BCMA for Citi India and South Asia, has decided to retire from the Bank after 18 illustrious years at Citi and a career spanning 35 years,” it added.

K Balasubramanian (Bala) will take over the role as the India and South Asia BCMA head alongside his current role as the head of corporate banking, South Asia, Citi.

“This move recognizes Bala’s stature, both internally and externally with the clients. Rahul Saraf will continue to head Investment Banking for India,” the company said.

Notably, Moneycontrol was the first to break the news of Kapoor's exit and Balasubramanian taking over.

Explaining why Kapoor is stepping down, Citi said: “Ravi attained the superannuation age last year and stayed back at the firm’s request. Ravi is actively thinking about professional and entrepreneurial opportunities he wishes to pursue going forward.”

According to the company release, Kapoor had taken over the current role in 2010. Over the past 13 years in his role as the BCMA head, “he has been instrumental in developing deep client relationships with large Indian conglomerates, mid-market companies, and market participants at senior most level and built a leading investment bank in India”.

Praising his work and career, Citi said: “His relentless focus, tireless work ethic, and passion for his team and the Citi brand have helped build an enviable capability in a highly competitive and rapidly growing market.”