New York-based Citigroup has named a new head of commercial banking for Asia, based in Singapore.
Gunjan Kalra has been named Asia Pacific head of Citi commercial bank, according to a statement. Based in Singapore, she reports to global head of Citi commercial bank Tasnim Ghiawadwala and APAC CEO Peter Babej.
Kalra's role comes into effect on September 1 and she will succeed Rajat Madhok, who was named global head of Citi commercial bank credit risk earlier this year.
Kalra has worked at Citi for 21 years, most recently as head of corporate sales and solutions in Asia.
Business Plans
Last year, the US lender said it was looking to add nearly 350 new staff in its commercial banking arm in Asia over the next three years to accelerate growth. Most of the hires will be made in Hong Kong, China, India and Singapore.
Citi’s commercial banking business serves firms with annual revenue of $10 million to $3 billion with an offering that includes cash management, trade and financial lending across 11 markets in Asia.
