According to a statement issued in Singapore, Gunjan Kalra has been named Asia Pacific head of Citi commercial bank. She will take over for Rajat Madhok, who was named global head of Citi commercial bank credit risk earlier this year. Kalra has been with Citi for 21 years, most recently as the Asia head of corporate sales and solutions.
Last year, the US lender announced plans to hire nearly 350 new employees in its commercial banking arm in Asia over the next three years in order to accelerate growth. The majority of the hiring will take place in Hong Kong, China, India, and Singapore.
Citi’s commercial banking business serves firms with annual revenue of $10 million to $3 billion with an offering that includes cash management, trade and financial lending across 11 markets in Asia.