Pamnani gets key post as Citibank reshuffles top brass
Mumbai--Citibank in a major reshuffle of management structure has moved towards a single reporting system for its corporate and consumer banking businesses.
Nanoo Pamnani, the former chief executive officer (CEO) and head of consumer banking for Citibank in India, has been now made cluster head of Citibank's corporate and consumer banking businesses in India, Sri Lanka, Bangladesh and Nepal. The corporate and consumer banking businesses operated independently and reported directly to the region's functional heads earlier.
Sarvesh Sarup, who was chief of Citibank's M&A (merger and acquisition) and new business operations for the consumer group office in London, is to take over as the consumer business head.
Sujit Banerji, corporate business head, has been sent to Brussels where he will take charge of strategic and operational planning as well as corporate alliances for central and eastern Europe, Middle East and Africa.
Sanjay Nayyar will be taking over as corporate business head for India, Sri Lanka, Bangladesh and Nepal. He was formerly the managing director for Salomon Smith Barney in New York covering emerging markets investor sales.
Victor Menezes, chairman and chief executive officer, Citibank NA, said, "India remains a priority country for Citibank. It is among the few countries where we would like to grow through acquisitions. Two thirds of our growth is through organic growth while one third is through inorganic growth. Here we do not want to focus ourselves as a narrowly positioned foreign bank."
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