People Moves
New Asia Pacific Head Of Citi Commercial Bank Named
Citi has looked to its markets business to find the Asia Pacific head of Citi Commercial Bank (CCB).
New York-based Citigroup has appointed Gunjan Kalra as Asia Pacific head of Citi Commercial Bank. She is replacing Rajat Madhok who was named global head of Citi Commercial Bank Credit Risk earlier this year.
Based in Singapore, Kalra (pictured) will report to global head of Citi Commercial Bank, Tasnim Ghiawadwala, and Citi Asia Pacific chief executive officer, Peter Babej. The appointment is effective from September, the firm said in a statement.
Kalra is joining Citi Commercial Bank from the firm’s markets business, where she was most recently Asia Pacific head of corporate sales and solutions. In this role, she was responsible for the delivery of market products to Citi’s corporate and commercial banking clients in the region, the firm continued. Prior to that, Kalra, who has worked for City for 21 years, was the Asia Pacific head for the Corporate Solutions Group from 2015 to 2021.
“Gunjan’s appointment is further demonstration of the connectivity across the Institutional Clients Group. Her markets' background and deep knowledge of Citi will be crucial in ensuring we continue to drive our CCB strategy and provide our Asia Pacific clients with the products and services that will enable their growth, address their cross-border needs and support them on their path to going global,” Ghiawadwala said:
“Commercial banking is a centrepiece of Citi’s strategy across Asia Pacific, matching the strong cross-border aspirations of our local clients and the power of our global network. With Gunjan’s proven leadership and broad experience, we look forward to driving our franchise to its full potential,” Babej added.
Last year, in order to accelerate growth, the firm said it was planning to add nearly 350 new staff in Asia for the commercial bank over the next three years.
Citi Commercial Bank serves firms with an annual revenue ranging from $10 million to $3 billion, with cash management, trade and financial lending in 11 markets in Asia Pacific, across North and South Asia and ASEAN.
