Brands
Citi names Ankur Khurana as head of commercial banking in India
New leader to steer mid-market growth as Citi doubles down on India
MUMBAI: Citi has appointed Ankur Khurana as the new head of its commercial banking business in India, effective 9 February 2026, signalling a sharper focus on the segment as a key growth engine in Asia.
Khurana will report to Gunjan Kalra, head of Citi commercial bank for Japan, Asia North and Australia, as well as Asia South, with a matrix reporting line to K Balasubramanian, CEO and banking head for Citi India and the Indian Subcontinent.
In her new role, she will be responsible for driving the strategy, growth and overall performance of the commercial banking franchise in the country. Her remit includes revenue, portfolio quality, capital returns and operating efficiency, along with strengthening cross-border opportunities for clients.
She will work closely with teams across banking, markets, services and wealth to ensure mid-sized and emerging corporates have access to Citi’s global suite of solutions, from cash management and trade finance to foreign exchange and capital markets. The role will also see her partner with investment banking teams to identify joint opportunities and support clients looking at capital market moves or strategic acquisitions.
Commercial banking is central to Citi’s global playbook, catering to mid-sized companies with international ambitions. In India, the franchise has built strong links with the start-up ecosystem and already banks nearly half of the country’s unicorns.
Gunjan Kalra said the segment continues to be a vital growth driver for the bank, adding that India remains one of Citi’s most strategic markets. She noted that Khurana’s experience in building high-performing franchises and her strong client and risk orientation would help deepen regional connectivity and strengthen the India business.
K Balasubramanian said India’s mid-market and emerging corporate space is entering a phase of rapid expansion, with more companies tapping capital markets and exploring overseas growth. He added that Khurana’s client relationships and disciplined financial approach would be crucial as the bank scales up in this segment.
Khurana brings more than two decades of global banking experience across corporate and investment banking, client coverage, financing, markets and transaction banking. Most recently, she was managing director and co-head of client coverage for India and South Asia at Standard Chartered. Her career has also included senior roles at Credit Suisse, JPMorgan and ICICI Bank.
She holds an MBA in finance and marketing from XLRI Jamshedpur, where she was a double gold medallist, and a Bachelor of Commerce degree from the University of Delhi.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
