Citi appoints Jeegar Shah as CFO for India business.

Citi appointed Jeegar Shah as the Chief Financial Officer (CFO) for its India franchise on Tuesday. He had been serving as interim CFO since February 2024.Jeegar will report to Mui-Eng Teo, CFO for Citi’s Asia South Cluster. “I am confident that Jeegar’s expertise will be invaluable in supporting Citi’s growth ambitions in the strategic India market,” said the South Cluster CFO.

As the CFO, Shah is expected to act as the point of contact for financial matters in India and collaborate with Ashu Khullar, the Citi Country Officer for India and Head of Banking for the Indian Sub-Continent. Shah has been entrusted with the responsibility of providing strategic financial support to Khullar.Ashu Khullar said Shah’s appointment as CFO, along with his experience in operations, would boost Citi Bank’s financial leadership. “Jeegar’s deep knowledge of our operations in India and proven track record in financial management make him exceptionally qualified for this critical role,” said Ashu Khullar.

Earlier, Shah served as the Cluster Controller for Citi’s South Asia Cluster. He has over 19 years of experience in finance roles, including financial and regulatory reporting, audits, regulatory examinations, and leading strategic finance initiatives across Citi’s businesses. Aditya Mittal, Citi India’s Chief HR Officer and Head of HR for the Indian Subcontinent, commented that Jeegar Shah’s previous experiences have made him well-equipped to take on his new role as India CFO.

Jeegar Shah said the new role gives him the opportunity to work with the leadership team. “I am honoured to take on the CFO role for Citi India. This is an exciting opportunity to provide financial stewardship as we build on Citi’s longstanding commitment to the Indian market,” he said.In March 2023, Axis Bank acquired Citi Bank’s consumer business. The newly appointed CFO of Citi Bank India is a Chartered Accountant from the Institute of Chartered Accountants of India and holds a master’s degree in commerce from the University of Mumbai.

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