Mumbai, Maharashtra, India:Citi India announced today the appointment of Sameer Kaul as the Head of its Private Bank. Launched in 2005 in India, Citi Private Bank (CPB) has grown to be one of the leading wealth managers in India. Globally, CPB has US$217 billion of assets under management, serving more than 26,000 clients, including one-third of world's billionaires.
Citi Private Bank India provides be-spoke private banking services to high net worth individuals and families. It offers Clients access to a gamut of products such as investment products, finance against residential and commercial real estate, family office services and trust and succession planning solutions. The Citi Private Bank also works collaboratively with the Commercial Bank to provide commercial banking solutions business owners. Revenues in the Private Bank in 2011 doubled over 2009 while business footings grew 2.6 times during the same period.
Commenting on the occasion, Pramit Jhaveri, CEO Citi India said, “We are pleased to appoint a Citi veteran as the new India Head of our Private Bank. His expertise in client servicing, product management and experience will further strengthen the business and prove to be an asset in growing our India franchise”.
Most recently, Sameer was the Head of Retail Branch Banking business in India where he ran Citi’s network of 42 branches spanning across 30 cities and was responsible for Commercial Banking and Wealth Management distribution business originating from the Bank’s branches. He has 17 years of experience with Citi having joined as a Management Associate in 1995 and has held various roles in Operations, Product Management, Insurance Distribution, Mortgages and Commercial Banking.
Sameer has an MBA from the University of Illinois and a Bachelors degree in Economics from Delhi University.
Committed to India for over 110 years, Citi takes pride in being a premier locally-embedded financial institution backed by an unmatched international network. Citi's presence in India spans 42 Citibank branches across 30 cities and over 700 ATMs. With capital invested of over US$4 billion, Citi is the single largest foreign direct investor in the financial services industry in India and offers consumers and institutions a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi is an employer of choice to approximately 7000 employees in India. Citi's franchise in India includes businesses such as equity brokerage, equities distribution, private banking (Citi Private Bank) and alternate investments and private equity (CVCI). In line with our commitment to make a positive difference in the communities where we work, Citi India's citizenship programme targets its strategic efforts in the priority focus areas of Financial Capability & Asset Building, Microfinance, Enterprise Development, and Youth, Education & Livelihoods.
Additional information may be found at http://www.online.citibank.co.in/press-room/citi-in-india.htm
Debasis Ghosh , Citi, +91 (22) 4001 5009