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Citi's Rahul Shukla takes charge of corporate banking at HDFC

Shukla has swapped places with K Balasubramanian who moved from HDFC Bank in November to take charge of the US lender’s corporate business in South Asia.

, ET Bureau|
Mar 06, 2018, 09.48 PM IST
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Agencies
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HDFC was looking for a replacement since Balasubramanian left in November 2017.
MUMBAI: Former Citibanker Rahul Shukla has joined HDFC Bank as head of the Mumbai based private sector bank’s corporate banking division, four people aware of the move said. Shukla joined HDFC Bank after completing his three month gardening leave in Citibank on March 1, these people said.

Shukla has swapped places with K Balasubramanian who moved from HDFC Bank in November to take charge of the US lender’s corporate business in South Asia which includes neighbouring countries in the subcontinent except Pakistan.

Shukla has been a career Citibanker spending over 25 years with different roles with the US lender in India and abroad. At HDFC Bank Shukla will handle large companies with a turnover of Rs 1000 crore or more in metro cities and Rs 600 crore in non-metro cities. He will report to Kaizad Bharucha, executive director and in charge of the bank’s wholesale banking division.

A HDFC Bank spokesperson declined to comment. HDFC was looking for a replacement since Balasubramanian left in November 2017.

Meanwhile, SM Sundaresan, regional head, south Asia, global corporates, at UK based Standard Chartered Bank has quit to join Axis bank as head of corporate banking.

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