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Citi on May 25 announced the appointment of Balaji Nuthalapadi as the Head of Operations and Technology (O&T), Citi South Asia, effective May 1. In this role, Balaji Nuthalapadi will lead the O&T division for India, Bangladesh, and Sri Lanka.
Balaji has more than 24 years of experience with Citi. He joined India’s retail lending business in Chennai in 1997 and went on to lead several roles in the retail wealth management business across India, Asia, and the United Kingdom for over 13 years. In 2018, alongside discharging his duties for the consumer banking operations, Balaji also took over as the Head of India Citi Solutions Centers (CSC). He will continue to provide oversight to the network of the five CSCs in India.
Notably, the global banking behemoth, on April 15, had announced that it will exit consumer/retail operations in 13 countries across Asia and Europe, including India . The move will allow Citi to direct investments and resources to businesses where it has greater scale and growth potential.
Citigroup CEO Jane Fraser said: “Citigroup lacked the scale to properly compete in the 13 markets it is leaving”, namely, Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam.
However, Citigroup’s Institutional Clients Group will continue to serve clients in the markets where it has stopped retail operations. Moneycontrol News first published: May 25, 2021 03:07 pm Discover the latest Business News , Sensex , and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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