Citi Strengthens South Asia Strategy, Appoints Ankur Khurana to Lead Indian Commercial Banking

Citi India division has entered a strategic expansion phase by appointing Ankur Khurana as head of the commercial banking unit. This move demonstrates the Wall Street bank’s commitment to deepen market penetration in the rapidly growing South Asia region. With over 20 years of experience in the financial sector and a track record as co-head of coverage for India and South Asia at Standard Chartered Bank, Khurana brings in-depth expertise to lead expansion in the mid-market segment.

Seizing Growth Opportunities in South Asia’s Mid-Market

This leadership position becomes crucial given the continuously evolving market dynamics. The commercial banking sector in South Asia is undergoing significant transformation, driven by a surge in transaction activity and impressive growth in equity capital markets. Indian emerging companies are increasingly active in cross-border acquisitions, creating high demand for banking services tailored specifically to the mid-market segment.

This leadership change fills a vacuum created since the previous year when Khurana’s predecessor, Bhanu Vohra, decided to join the India branch of global consulting firm BDO. According to Jin10, this appointment is strategic, as each player in the sector sees great potential in serving mid-sized companies that are in a critical growth phase.

Commercial Banking Expansion in South Asia

Citi’s strategy to strengthen its commercial banking division reflects industry optimism about the economic prospects in South Asia. The region offers unique opportunities for global financial institutions capable of understanding the specific needs of growing local companies. With experienced leadership navigating regional complexities, Citi is positioned to capture a larger share in corporate finance transactions and advisory services in the South Asia mid-market segment.