Jul 18, 2013
Hong Kong, July 16th 2013 - Citi today announced the appointment of Ashish Bajaj as Asia Pacific Head of Citi Commercial Bank. He will report to Jonathan Larsen, Asia Pacific Head of Consumer Banking and Global Head of Retail Banking, and Sunil Garg, Global Head of Citi Commercial Bank.
Mr. Bajaj will be responsible for implementing the next strategic phase of growth for this important business for Citi in Asia, focusing on key target client segments, enhancing client relationships, developing relationship management talent, and continuing to deliver the firm’s unique product capabilities to clients.
He replaces Gaurang Hattangdi, who has taken on the role of Global Head of Product Development for commercial banking. In this new role, Mr. Hattangdi will work on developing supply chain and other global product solutions to leverage Citi’s unique global client footprint and drive growth.
“Commercial banking is a growing business for Citi, with significant opportunities to expand our efforts to support mid-sized companies worldwide, especially in Asia,” said Mr. Garg. “With his breadth of experience and focus on providing unparalleled service to clients, Ashish is wellsuited to help us leverage those opportunities in the region.”
“The commercial client segment is an important part of the Asian economy being similar in size to the total consumer revenue pool in Asia. With his background in relationship management, transaction services, and commercial banking across emerging markets, Ashish is the ideal candidate to lead the growth of our commercial banking business,” said Mr. Larsen.
Mr. Bajaj is a Citi veteran of 26 years and is currently the Regional Head of Relationship Management for Financial Institutions in Asia Pacific, based in Hong Kong. Prior to that, he led Citi Transaction Services in South Asia for seven years and was based in Mumbai. He has also been Head of Citi Commercial Bank for South Asia, Global Payments Head for Citi’s Cash Management Services based in New York, and was part of the Emerging Markets Task Force based in London. Mr. Bajaj holds an MBA in Finance from Jamnalal Bajaj Institute of Management Studies and a Bachelor of Science in Mathematics from Bombay University.
The commercial banking business provides services to meet the global demands of small and medium sized companies leveraging Citi’s capabilities to deliver solutions for cash management, foreign exchange, lending, trade, and employee banking.
Re-disseminated by The Asian Banker