MUMBAI: Citibank has a new head of consumer business in India. The US-headquartered lender, which has the largest retail portfolio among multinationals in India, has named Arjun Chowdhry as consumer business manager, global consumer banking, India.
Chowdhry will manage all of Citi’s consumer businesses including retail banking, wealth management, cards, and mortgages, in India.
In November, Citi had announced that its former India consumer banking chief Anand Selvakesari will take over from Jane Fraser as CEO of global consumer banking in New York.
Chowdhry was earlier head of credit cards, payments and unsecured lending. He has expanded Citibank’s credit card portfolio by the addition of white label card propositions and co-branded cards and led digital initiatives.
Chowdhry will manage Citi’s comprehensive set of consumer businesses in India, including credit cards, retail banking, wealth management, loans and mortgages.
In his new role, Chowdhry will join the bank’s consumer leadership team in Asia. He will report to Ashu Khullar, CEO, Citi India and Fabio Fontainha, head of retail banking for Asia Pacific and Asia Middle-East and Africa.
Chowdhry joined Citi as a Management Associate and has held diverse roles since then, starting with consumer operations, and has worked across wealth management, Suvidha (Citi At Work), NRI and deposit products, credit cards, loans & payments. He holds a B.Sc. (Hons) degree from St Stephen’s College, Delhi, and a PGDM (MBA) from the Indian Institute of Management (IIM), Bangalore.
Citibank India is a market leader in the wealth management space, being the largest foreign bank in terms of assets under management.
The bank has focused on digital engagement and has 75% of financially active customers accessing their accounts through the bank’s online portal and mobile app, with over 96% per cent being undertaken through the self-service mode.