Ravi Kapoor to retire as Citi banking, advisory head for South Asia; K Balasubramanian to take over

Citigroup on Tuesday said Ravi Kapoor will retire as Banking, Capital Markets and Advisory (BCMA) Head for South Asia and India after working with the group for 18 years.

K Balasubramanian will take over the role of BCMA Head for South Asia and India, in addition to his current Corporate Bank Head role. Rahul Saraf will continue to head Investment Banking for India, Citi said in a statement.

"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. Ravi attained the superannuation age last year and stayed back at the firm's request," it said.

Over the last 13 years in his role as BCMA Head, Kapoor has been instrumental in developing deep client relationships with large Indian conglomerates, mid-market companies and market participants at the senior-most level and built a leading investment bank in India, the statement said.

This move recognises Balasubramanian's stature, both internally and externally with the clients. Rahul Saraf will continue to head Investment Banking for India.

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