Citigroup is retaining the services of its veteran CFO Abhijit Sen, who was most recently appointed as the chief financial officer and chief administrative officer at private equity firm KKR in India.
Sen, who retired from Citigroup last year and was serving a two-year extension, is an old Citi hand for nearly 15 years.
Sen’s decision to stay back in his old organisation comes at a time when Citi India is seeing several changes with Pramit Jhaveri succeeding Mark Robinson as CEO. Citi is expected to announce more internal changes including the appointment of a new investment banking head (Jhaveri held this post) in the coming days.
The global buyout major KKR had recently announced Sen’s appointment with effect from April 1, 2010. He was supposed to oversee finance, compliance and administration of KKR in India.
A KKR spokesperson confirmed the development to VCCircle and said “We confirm that Mr. Abhijeet Sen will not be taking up a position at KKR. We wish him all the best for his future endeavours.” The reason behind Sen’s decision to stay back at Citigroup also could not be ascertained.
Sen has been heading the finance function in South Asia for the past 15 years. As CFO South Asia, Sen had oversight of the group’s finance function in India, Bangladesh and Sri Lanka, including the following key acquisitions, strategic planning and divestitures.
Sen holds an engineering degree from IIT Kharagpur and an MBA from IIM Calcutta.