Citi has appointed Rajat Madhok as global head of Citi Commercial Bank credit risk. Prior to this, Madhok was Asia-Pacific head of Citi Commercial Bank – a role he took up in 2019.
Madhok’s appointment follows a number of Asia-based senior bankers who have moved on to take global or US-based roles at Citi, including Anand Selva, chief executive officer of personal banking and wealth management; Gonzalo Luchetti, head of US personal banking; and Valentin Valderrabano, global chief operating officer for Citi global wealth.
In his new role, Madhok will relocate to New York from Hong Kong and will have risk management oversight, including wholesale credit risk, for Citi Commercial Bank.
Madhok joined Citi in India in 1996 where he held various roles across corporate banking and commercial banking. In 2011, he was named Citi Commercial Bank head for India.
During his term as Asia-Pacific head of Citi Commercial Bank, Madhok led Citi’s commercial banking business across 11 markets in the region and delivered consistent growth for the firm despite the challenging operating environment over the past few years. In 2021, Citi Commercial Bank in Asia-Pacific contributed to 41% of the business’ US$2.7 billion in global revenues, making the region the largest revenue contributor for the business globally.