Citigroup has named Amit Dhawan as the new head of Citi Commercial Bank (CCB) for Singapore, starting in April 2024. This important advancement demonstrates Citigroup's strategic decision, emphasising Singapore's key position as a financial centre in Asia.
Amit Dhawan's appointment at Citi Commercial Bank is expected to improve financial performance and business strategy, given his extensive banking experience of over 30 years.
Amit Dhawan's expertise in overseeing emerging corporates and commercial lending makes him a strong candidate to head Citi Commercial Bank in Singapore. He has gained the necessary expertise to handle the intricacies of the financial industry, having served as Citi's head of emerging corporates for Asia since 2017 and as the Asia-Pacific Head of Commercial Lending Management from 2012 to 2017.
According to Gunjan Kalra, who leads Citi Commercial Bank in Asia North, Australia, and Asia South clusters, Singapore plays a key role in the bank's operations because it is a major financial centre and has close ties with other Asian markets.
CCB plays a crucial role in Citigroup’s worldwide strategy and is a significant driver of expansion. The division offers cash and liquidity management, foreign exchange, trade finance, capital markets, and lending solutions for medium-sized corporations expanding internationally.
According to Kalra, Singapore is a critical centre for CCB because of its recognition as a leading financial hub and its close connection to other Asian markets. There are several growing and medium-sized companies in Singapore that are seeking to expand regionally and globally.
CCB operates in 11 Asian markets, such as Australia, mainland China, Hong Kong, India, Indonesia, Malaysia, Singapore, South Korea, Taiwan, Thailand, and Vietnam.