BWI: Citi India Names Rahul Soota Retail & Commercial Banking Head

Press release from Business Wire India
Source: Citi
Thursday, April 22, 2010 01:15 PM IST (07:45 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
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Citi India Names Rahul Soota Retail & Commercial Banking Head


Mumbai, Maharashtra, India, Thursday, April 22, 2010 -- (Business Wire India) -- Citi India today announced the appointment of Rahul Soota as Head of Retail & Commercial Banking. In this role, Mr Soota will be responsible for Citi's Branch Banking and Citigold Wealth Management, Mortgages and Suvidha businesses. He will also lead Citi's Commercial Banking business spanning the Business and Professional, Small and Mid Market Enterprise segments. Mr Soota will report jointly to N. Rajashekaran, Country Business Manager, Global Consumer Group, Citi India and Gaurang Hattangdi, Head, Commercial Banking, Citi Asia Pacific.

Announcing this appointment, N. Rajashekaran, Country Business Manager, Global Consumer Group, said, "Rahul's appointment emphasizes the tremendous opportunity we see in our Consumer and Commercial banking franchise in the country. Under his leadership, we will strengthen our focus on driving success for our clients by serving stronger value propositions. With his track record, Rahul is well positioned to pull our strengths together on one platform and in one team to derive customer-centric synergies that encompass all the personal and business banking needs of our customers."

This appointment also reflects Citi's move in Asia to integrate the two separate units that served this growing market segment into a single operating platform in the form of a new Commercial Bank. Previously, Citi served the Small Business and Professional segment via the CitiBusiness brand, which was hosted out of the Consumer Bank, and the Small & Mid Market Enterprise segments from the Local Commercial Bank under Citi's Institutional Clients Group.

Gaurang Hattangdi, Head, Commercial Banking, Asia Pacific, said, "We see the Commercial Banking space as a tremendous opportunity for Citi in Asia and in India and we are committed to growing our presence in this space where today, we have over 200,000 clients across Asia Pacific. The new integrated Commercial Bank provides us with a superior ability to serve customers ranging from small and mid-sized companies, their owners and employees the entire breadth of the firm's market-leading corporate and wealth management products via a unified operating platform."

About Rahul Soota, Head of Retail & Commercial Banking

Rahul Soota joined the Bank in 1992 upon completion of his articleship at Pricewaterhouse. A highly experienced Citibanker, Soota has worked in Financial Control, Personal Loans, Mortgages and Business Lending. Some of the key assignments Soota has held during his nearly 20 years at Citi are Head of Mortgages and Head of Retail Bank. Prior to being named Head of Retail & Commercial Bank, Soota was Managing Director of Citifinancial where he led a comprehensive two-year long remodeling and repositioning exercise helping diversify its sources of revenue across Personal Loans, Mortgages and Wealth Management.

Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.


CONTACT DETAILS
Indu A. Anand, Citi, +91 (124) 418 6766 / +91 981177 1912, indu.anand@citi.com
Debasis Ghosh, Citi, +91 (22) 4001 5009 / +91 98211 40365, debasis.ghosh@citi.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

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