Veteran Citi dealmaker Ravi Kapoor to retire & pursue entrepreneurial opportunities; K Balasubramanian to take over

According to the Citi website, Kapoor has more than 35 years of banking and capital markets experience and has led several marquee deals across equity capital markets, debt capital markets, mergers & acquisitions and acquisition financing

After an illustrious 18-year stint at Citi, veteran dealmaker Ravi Kapoor, Managing Director and Head of Banking, Capital Markets and Advisory, South Asia and India (BCMA) is set to retire next month and pursue entrepreneurial opportunities, multiple industry sources with knowledge of the matter told Moneycontrol.

" 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," said one of the persons above.

K Balasubramanian ( Bala) is the head Corporate Banking , South Asia, Citi.

A second person confirmed the above transition and added that Kapoor was gearing up for an entrepreneurial play in the financial services space in his second innings.

Both the persons above spoke to Moneycontrol on the condition of anonymity.

Moneycontrol has sent an email query and could not elicit an immediate response from Citi

According to the Citi website, Kapoor has more than 35 years of banking and capital markets experience and has led several marquee deals across equity capital markets, debt capital markets, mergers & acquisitions and acquisition financing. Prior to joining Citi, he was Executive VP and Head of equity origination and capital Markets at DSP Merrill Lynch, India. Kapoor, a chartered accountant started his career with ICICI Ltd in 1988 in the project finance division before moving to what was then the newly-formed investment banking subsidiary, ICICI Securities.

K Balasubramanian has spent nearly 25 years at Citi and has had stints at HDFC Bank as Group Head ( Corporate Bank) and PwC.

Also read: Rahul Saraf elevated as new I-Banking head of Citi India