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Mark Robinson May Quit Citi

22 March, 2010

Mark Robinson, a Citigroup veteran who took over as Citi’s South Asia unit head last year, is learned to have put in his papers to leave for another assignment. Speculation is also that Pramit Jhaveri, who is currently the Head of Global Banking in India and Vice Chairman of Asia Investment Banking at Citigroup, could be taking over his position. An internal announcement on the development is expected anytime now.

It is rumored that Robinson will be joining Australia and New Zealand Banking Group’s as their new Asia Pacific unit head. Robinson took charge of the India unit after Sanjay Nayar, the previous head of Citi India, left to join as India head of private equity major Kohlberg Kravis Roberts and Co. last year.

When contacted, a Citi spokesperson said that we do not comment on market speculation.

Robinson joined Citi in 1984 and prior to the India assignment was President of Citibank ZAO, Citi Country Officer for Russia and Division Head for Russia, Ukraine and Kazakhstan. India is one of the fastest growing markets for Citi with the bank reporting a 20.45% increase in net profit to Rs 2,173 crore and a 24% rise in total revenues to Rs 10,423 crore during 2008-09.

ANZ, which is Australia’s fourth-largest lender, recently got approval from the Indian government to set up operations in the country. Earlier this month it announced a target of $90.50 million in pretax profit from India in 3-4 years. The firm had sold its India assets to Standard Chartered Bank more than ten years, exiting the India operations.

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Mark Robinson May Quit Citi

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