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U.S.-India Business Council appoints Citi India CEO to its board of directors
Laos News.Net
Tuesday 4th December, 2007 (ANI)
Washington, Dec 4 (ANI/Business Wire India): The U.S.-India Business Council (USIBC) has appointed Sanjay Nayar, Chief Executive Officer of Citigroup in India, to its board of directors.
The USIBC is the premier business advocacy organization representing 250 of the largest U.S. companies investing in India, joined by two dozen of India's largest global companies.
USIBC's mandate is to strengthen U.S.-India commercial ties.
Charles "Chip" Kaye, Chairman of USIBC, and Co-President of the private equity firm Warburg Pincus welcomed Nayar onto the USIBC Board, saying, " Nayar, a seasoned banker, brings a solid track record of international banking and in-depth understanding of India. With rich experience of working in India, he has been a strong advocate of U.S.-India economic partnership at various levels and is an important addition to the U.S.-India Business Council Board."
Speaking about his appointment to the U.S.-India Business Council Board of Directors, Nayar, CEO Citi India 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 U.S. 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."
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 dollars, 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.
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.
From 1996 to 2002, he was heading Salomon Smith Barney's Emerging Markets Capital Markets businesses in New York. From 1994, he was with Citibank London as the Global Head for Emerging Markets Equities.
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. By qualification, he is an MBA in Finance from the Indian Institute of Management, Ahmedabad and a bachelor in Mechanical Engineering from Delhi University.
Citi is the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management.
Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex.
The USIBC formed in 1975 at the request of the Government of India and the U.S. Government to advance commercial ties between the world's two largest free-market democracies, is hosted under the aegis of the U.S. Chamber of Commerce.
The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector, and region.
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