Brands
Citi names Behzad Merchant to steer business execution in India
MUMBAI: Citi is tightening its execution engine in India. The bank has appointed Behzad Merchant as business execution lead for India, with additional oversight for Bangladesh and Sri Lanka, as it sharpens focus on governance, risk and regulatory delivery in a complex market.
Merchant will report to Varittha Prichapanich, business execution lead for Asia South, with a matrix line to K Balasubramanian, chief executive of Citi India and banking head for the Indian subcontinent. His brief spans strategic and business-critical initiatives, regulatory programmes, and efforts to streamline governance while reinforcing the bank’s risk and controls framework.
Balasubramanian says the appointment underlines Citi’s push for disciplined risk management and strong execution across its India franchise. Merchant’s familiarity with Citi and leadership experience, he adds, should help balance growth ambitions with tight operational controls.
Prichapanich describes Merchant as combining operational depth, technology expertise and a risk mindset suited to a fast-changing environment. His regional understanding and execution focus are expected to bolster governance and delivery across the subcontinent.
Merchant brings more than 25 years of experience across banking, operations, technology and controls. He moves into the role from Citi’s Asia South technology controls team, where he worked on key markets including India, Sri Lanka and Bangladesh. Before that, he spent two and a half years at JPMorgan as business risk and controls lead for the payments business in Asia, overseeing regional frameworks and serving as India site lead for global payments risk and controls.
His history with Citi runs deep. Merchant previously spent nearly two decades at the bank in senior roles spanning operations, technology and control functions. A commerce graduate and an alumnus of IIM Bangalore, he blends institutional memory with technical grounding.
For Citi, the message is clear. In an era of tighter rules and thinner margins, execution is strategy. And in India’s high-stakes banking market, the winners will be those who control the risks as tightly as they chase the returns.
Brands
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
