K Balasubramanian is set to succeed Ashu Khullar as the India subcontinent sub-cluster and banking head of Citibank, pending approval from the Reserve Bank of India (RBI). He will report to Amol Gupte, Head of Asia South and Banking Head.

Khullar, who has been at the helm of Citi India since 2019, will now transition to the role of co-head of Global Asset Managers (GAM) alongside Anthony Diamandakis. He will also join the Investment Banking Global Operating Committee.

During Khullar’s tenure from 2019 to 2025, Citi recorded strong growth, emerging as the top investment bank across the equity capital market and mergers and acquisitions, the US-headquartered bank said in a statement.

“These moves highlight the deep talent bench we have across our franchise. India is one of Citi’s largest markets globally, where we have strong business momentum, and we are confident Balasubramanian will build further on our leadership position in this key market”,  said Gupte.
 
Balasubramanian, an experienced banker, has gained extensive exposure across various markets, serving clients from key industries and regions in India. He joined Citi India in 1996 and has held various positions over his 20-plus years with the company. A commerce graduate from St. Xavier's College, Kolkata, he is also a qualified chartered accountant (CA) and cost accountant (ICWA).