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Citi Recrafts Corporate Banking

What’s long been suspected is true. Citibank is responding to the challenge of heightened corporate banking competition by rebuilding its services. He emphasis? Client relationships. Indepth relationships, that is, which involve not just new initiatives in strategic risk management, but also the promise of partnership on managing value-drivers.

By Roshni Jayakar

The Citi never sleeps, so reads the Citibank’s catchphrase. So, in keeping with the changing business needs, Citibank has evolved it’s corporate banking operations. As the corporate India restructures Citibank is positioning to offer operational and strategic risk management solutions. The strategy: Improving relationships with clients.

First the people. Corporate banking team has been strengthened. Sanjiv Vora has rejoined Citibank after a three-year stint with ABN Amro Bank, as managing director, corporate bank --India. Vora is responsible for the bank’s relationship with the corporate customer base in 12 cities. Andre Shortell, who was earlier head of corporate bank, is now head of strategic risk management group. Both of them report to Sanjay Nayar, managing director and area head for India, Sri Lanka, Bangladesh and Nepal, Global Corporate & Investment Bank.

Says Nayar :” In a market where balance sheet size becomes less relevant and there is reduced offtake of credit, we are approaching our clients in a wholistic fashion covering their financial , operational and strategic risk management needs.” That is, by understanding the issues facing the clients and anticipating future developments Citibank is better positioned to not just provide solutions to the businesses but also execute them. Adds Vohra:” The new approach is leading relationships by understanding the value drivers of the clients and leveraging on an array of domestic as well as global products, thereby enhancing value to the clients.” The new approach is leading relationships by understanding the value drivers of the clients and leveraging on an array of domestic as well as global products, thereby enhancing value to the clients.” That is corporate advisory backed by products.

Globally, Citibank follows a group based approach to corporate banking with the origination group organized around 14 industries of which branded consumer group is one of the largest. Citibank India has industry groups that mirror the global approach, though the value proposition for customers are aligned to Indian economy. Says Vohra:” :” Some new products and deepening of relationships create barriers and helps in growing our market share with clients”. Clearly, the rejigged corporate banking unit is putting the entire (Citi) bank at work.

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