Citigroup has named Arjun Chowdhry as the acting head of its consumer banking business in India. Chowdhry, who has been with Citi for 25 years, currently serves as the head of credit cards, payments and unsecured lending for the American bank in India.
A Citi spokesperson confirmed the development stating, “We confirm that Chowdhry, cards and unsecured lending head, GCB India, will assume the additional responsibility of acting consumer business manager effective October 1.”
The appointment comes as Shinjini Kumar, the head of the consumer banking business, stepped down after three years with the U.S. bank. Kumar, who handled Citigroup’s consumer businesses across India, including retail banking, wealth management, credit cards and mortgages, will leave at the end of this month.
Meanwhile, Choudhry, an alumnus of St Stephen's College and IIM Bangalore, had joined Citi as a management associate. Arjun joined Citi as a Management Associate, starting in sales and then had a long and successful stint in Operations. He also has significant experience in running consumer businesses.
Besides leading the transformation of Citi’s market-leading Suvidha proposition (now known as Citi At Work), he also ran the co-branded credit card portfolios, and Wealth Management products and sales. In his last stint, as Chief Operating Officer for the consumer business, he was responsible for NRI India & Banking Products, Citibank’s ATM network, debit cards, as well as all business transformation, re-engineering, and strategy. During this time, he implemented multiple strategic projects such as balance sheet restructuring and remittances, including the successful FCNR program. It is this deep experience the bank hopes to leverage with this appointment.