By Arun Kumar, IANS
Washington : The US-India Business Council (USIBC), a leading advocacy group seeking stronger US-India commercial ties, has appointed Sanjay Nayar, Chief Executive Officer (CEO) of Citi India, to its Board of Directors.
“Nayar, a seasoned banker, brings a solid track record of international banking and in-depth understanding of India,” said Charles “Chip” Kaye, chairman of the group representing 250 of the largest US companies investing in India and two dozen largest Indian global companies.
“With rich experience of working in India, he has been a strong advocate of US-India economic partnership at various levels and is an important addition to the US-India Business Council Board,” he said.
On his appointment, Nayar said: “It is indeed a distinct privilege to join this eminent board. At Citi India, we have serviced the financial needs of both corporate and consumer clients across all segments for many years.
“The experience gained has resulted in unique insights, which I think will benefit both US and Indian companies keen to expand their businesses. I look forward to actively working with my distinguished colleagues on the board to further advance Indo-US commercial ties.”
Nayar joined Citibank in 1985 and has been the CEO of Citi India and the Area Head for its Corporate and Markets business in Sri Lanka, Bangladesh and Nepal since October 2002. He headed Salomon Smith Barney’s Emerging Markets business in New York from 1996 to 2002. He was with Citibank London as the Global Head for Emerging Markets Equities from 1994.
Between 1985 and 1994, Nayar held various positions across the Corporate bank and the Transaction bank in Citibank India, including that of Corporate Finance and Capital Market business head.
He is an MBA in Finance from the Indian Institute of Management, Ahmedabad, and a bachelor in Mechanical Engineering from Delhi University.
Citi has a rich history in India of over 105 years. It is the premier local financial institution backed by its global network across 100 countries.
With over 22,000 employees and capital invested of over US$ 2.9 billion, Citi is the single largest foreign direct investor in the financial services industry in India with a significant presence and offers a comprehensive suite of products and services to both commercial and retail clients.
It has a customer base of over 1500 large corporates and multinationals, over 2,500 small and medium enterprises, over 40,000 asset-based financing clients and over 7 million retail customers.