Citi Private Bank has lost a veteran banker and a key figure in their Asian management team, as finews.asia can reveal.
U.S. banking giant Citi has been dealt a serious blow in its coverage of the global Indian client segment with the resignation of Debashish Dutta Gupta in Singapore. He was most recently global head of Citi’s Indian client segment, responsible for the private bank’s relationships with Indian clients and clients of Indian origin worldwide.
Management Shuffle
Prior to this he was its Asia-Pacific head of Investments for Wealth Management, a position many had believed would catapult Dutta Gupta to a key leadership role. Hence, his subsequent appointment to the Indian client segment had come as a surprise. A spokeswoman for the bank confirmed to finews.asia that Dutta Gupta is serving out his notice.
After years of relative stability, Citi announced a flurry of management changes at the private bank in Asia last year, instigated in part by the retirement of CEO Bassam Salem. Rudolph Hitsch was made north Asia head, Jyrki Rauhio south Asia head, and Akbar Shah was appointed head of business development.
