Citi CEO Sanjay Nayar joins US global management panel
Sanjay Nayar, CEO, Citigroup India and the area head for its operations in Sri Lanka, Bangladesh and Nepal has been appointed as part of the US group’s global management committee.
By TNN |
MUMBAI: Sanjay Nayar, CEO, Citigroup India and the area head for its operations in Sri Lanka, Bangladesh and Nepal has been appointed as part of the US group’s global management committee. This is the first time that the head of the Indian operations has been made a part of the global committee.
There are currently around 112 members in the management committee. There have been another 30 additions to this committee this week. However Mr Nayar is the only country head who has been newly appointed. The other country heads in the committee include those from China and Brazil.
Incidentally there are a host of Indians in the committee. They include Ajay Banga chairman & CEO global consumer group — international, Ashok Vaswani, CEO, Asia Pacific, global consumer group, Shirish Apte, CEO, Central and Eastern Europe, Middle East & Africa, corporate and investment banking; and Vikram A Atal, chairman & CEO Citi Cards global consumer group.
The global committee includes country heads from different regions and also heads of different product groups. It has been designed to encourage senior management of the group to think beyond their individual business. It becomes a think-tank for the corporation. The committee meets at least twice a year and reports to Chuck Prince, Citigroup CEO.
Citi is the only international financial group which has a host of Indians in the senior management. Citi views India among its top five priority markets along with Korea, China, Russia and Brazil. It was even looking at taking a stake in a private sector bank and was even open to taking over Ganesh Bank of Kurundwad.
ADVERTISEMENT
Citigroup is the largest investor in the financial services into India. Its total investments in India are pegged at around $1.9bn. This also includes Citi’s investments in HDFC where it picked up a 12.3% stake for around $900m. Citi currently has a branch network of 39 in 27 cities. It also has a host of non banking finance arms including Citicorp Maruti Finance, CitiCorp Finance India, Citi Financial, Citicorp Capital Market and CitiGroup Global Markets.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
