Ashu Khullar Transitioned To Global Co-Head Of Citibank’s GAM; K. Balasubramanian Appointed India CEO

Citibank India head Ashu Khullar has been appointed as the global co-head of Global Asset Managers (GAM) and will be based in London, effective March 1, 2024. K. Balasubramanian will replace Khullar as the India CEO, subject to Reserve Bank of India approval.

Khullar will oversee EMEA and Asia, working with sponsors, and will partner with Anthony Diamandakis, who leads North America. He will also join Citibank’s investment banking global operating committee. Khullar served as India CEO from 2019 to 2024. He has studied at Shri Ram College of Commerce (SRCC), Delhi, and the Indian Institute of Management Ahmedabad (IIM-A).

Balasubramanian, currently based in Singapore, has led corporate banking for ASEAN and South Asia since 2023. He joined Citibank in 1996 and had a brief tenure at HDFC Bank before returning in 2017. He has studied at the Institute of Cost and Work Accountants of India and the Institute of Chartered Accountants of India (ICAI).