In the recent turn of events, Reuters stated that Ashu Khullar will serve alongside Anthony Diamandakis as the co-head of global asset managers. Ashu Khullar will also be a part of the global investment banking committee.
The memo further mentioned that K. Balasubramanian would fill Khullar’s current role as India subcontinent sub-cluster & banking head. However, the banking regulator, the Reserve Bank of India (RBI), has yet to approve the Balasubramanian role.
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Khullar’s & Balasubramanian Roles In Citi Bank
Ashu Khullar’s five-year tenure as Citi’s CEO grew the bank’s revenue at a CAGR of approximately 15%, which is double the growth rate from 2014-19.
Balasubramanian, who leads corporate banking for ASEAN and South Asia, has been based in Singapore since 2023. Previously, he was with Citibank from 1996, except for a brief tenure at HDFC Bank in 2016-17, where he served as Joint President of the Corporate Banking Group and Government Business.
He returned to Citibank in 2017 to head corporate banking for South Asia and assumed the role of BCMA head in 2023. Balasubramanian is also a qualified chartered and cost accountant and a commerce graduate from St. Xavier’s College, Kolkata.
