29th March 2023 – Citi has appointed Rajat Madhok as Global Head of Citi Commercial Bank Credit Risk. Prior to this, Rajat was Asia Pacific Head of Citi Commercial Bank – a role which he took up in 2019.

Rajat’s global appointment follows on from a number of Asia-based senior bankers who have moved on to take global/US-based roles at Citi including Anand Selva, CEO of Personal Banking and Wealth Management; Gonzalo Luchetti, Head of U.S. Personal Banking and Valentin Valderrabano, Global Chief Operating Officer for Citi Global Wealth.

In his new role, Rajat will relocate to New York from Hong Kong and will have risk management oversight, including wholesale credit risk, for Citi Commercial Bank. He brings his extensive experience as a banker and a senior credit officer to the new role.

Rajat joined Citi in India in 1996 where he held a variety of roles across Corporate Banking and Commercial Banking and is credited with building high-performance teams and businesses. In 2011, he was named Citi Commercial Bank Head for India and launched several new initiatives that led to high quality, client-led growth.

In his time as Asia Pacific Head of Citi Commercial Bank, Rajat led Citi’s commercial banking business across 11 markets in the region and delivered consistent growth for the firm despite the challenging operating environment over the past few years. In 2021, Citi Commercial Bank in Asia Pacific contributed to 41% of the business’ US$2.7 billion in global revenues, making Asia Pacific the largest revenue contributor for the business globally.