K Balasubramanian has been appointed as the new India Subcontinent Sub-Cluster and Banking Head for Citibank, succeeding Ashu Khullar, subject to approval from the Reserve Bank of India (RBI). He will report to Amol Gupte, Head of Asia South and Banking Head. The leadership transition marks a significant development in Citi India’s operations, which have seen strong growth under Khullar’s leadership.
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Key Highlights of the Leadership Transition
New Appointment
- K Balasubramanian will take over as Citibank’s India Subcontinent Sub-Cluster and Banking Head.
- His appointment is subject to RBI’s approval.
Reporting Structure
- Balasubramanian will report to Amol Gupte, Head of Asia South and Banking Head.
Ashu Khullar’s New Role
- Khullar will now serve as Co-Head of Global Asset Managers (GAM) alongside Anthony Diamandakis.
- He will also be part of Citibank’s Investment Banking Global Operating Committee.
Khullar’s Tenure (2019-2025)
- Under his leadership, Citibank India became the top investment bank in equity capital markets and mergers & acquisitions.
- Citi recorded strong business growth during his tenure.
Citibank’s Official Statement
- Citi highlighted that India remains one of its largest global markets.
- Amol Gupte praised Balasubramanian’s leadership capabilities and experience, emphasizing Citi’s strong business momentum in India.
About K Balasubramanian
- A seasoned banker with over two decades of experience at Citibank.
- Has worked across multiple markets, industries, and geographies in India.
- Joined Citi India in 1996 and held various leadership roles.
- Educational BackgroundCommerce graduate from St. Xavier’s College, Kolkata.
- Qualified Chartered Accountant (CA) and Cost Accountant (ICWA).
| Summary/Static | Details |
| Why in the news? | K Balasubramanian Appointed as New Citibank India Head |
| New Appointment | K Balasubramanian as India Subcontinent Sub-Cluster and Banking Head |
| Approval Required | Reserve Bank of India (RBI) |
| Reporting To | Amol Gupte (Head of Asia South and Banking Head) |
| Predecessor | Ashu Khullar |
| Khullar’s New Role | Co-Head of Global Asset Managers (GAM) and member of the Investment Banking Global Operating Committee |
| Khullar’s Tenure | Led Citi India from 2019 to 2025, achieving top position in investment banking and M&A |
| Citi’s Statement | India is one of Citi’s largest markets; Balasubramanian expected to strengthen its leadership |
| Balasubramanian’s Experience |
20+ years at Citi, expertise in multiple industries and markets
|
| Education |
Commerce graduate (St. Xavier’s College, Kolkata), CA, ICWA
|
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