Jhaveri has been the longest-serving head of India's largest foreign bank
He took over as the CEO in April 2010 after Marc Robinson moved out of the bank
Mumbai: Pramit Jhaveri, the former country head of Citi India, has taken an early retirement after spending close to three decades at the bank in various capacities. The 56-year-old Jhaveri had joined the Wall Street major as a management associate way back in 1987, and had a steady rise to become vice-chairman of banking, capital markets and advisory for Asia Pacific earlier this year, after heading the India operations for almost a decade between 2010 and 2019.
A career Citibanker, Jhaveri has been the longest-serving head of India's largest foreign bank. He took over as the CEO in April 2010 after Marc Robinson moved out of the bank. He took over around the time Citi India’s retail business saw a jump in bad assets. His retirement was announced by the Citi Asia Pacific chief executive Peter Babej over email to the employees, the sources said.
A Citi spokesperson confirmed the development and said that, "Jhaveri has decided to retire from Citi. During his tenure, he built a strong team and established Citi as a market leader in the country."