Citi has hired a Singapore-based expert to fill a vacancy in the business with clients from India. The banker only just left rival bank DBS in Singapore.
By Shruti Advani, Guest Contributor finews.asia
After the resignation of Debashish Duttagupta as head of the Indian client business in June, Citi reportedly was looking to promote a banker internally.
Instead, the U.S. bank now has opted to hire Varun Chugh, the erstwhile head of the global South Asian team at DBS. Chugh’s hire is a good strategic fit because both banks have similar business models spanning the spectrum from high net worth to billionaire clients.
Chugh will continue to be based in Singapore and spearhead Citi’s vast network of booking centers popular with Indian clients.
