Citi has appointed Behzad Merchant as its new Business Execution Lead for India, expanding his remit to include oversight of operations in Bangladesh and Sri Lanka.
Based in Mumbai, Mr Merchant will report to Varittha Prichapanich, Business Execution Lead for Asia South, with a matrix reporting line to K Balasubramanian, Chief Executive Officer of Citi India and Banking Head for the Indian Subcontinent.
In his new role, Mr Merchant will be responsible for leading strategic and regulatory initiatives across India, with a focus on strengthening governance frameworks and enhancing the bank’s risk and control environment. Citi said the appointment reflects its continued emphasis on disciplined execution and operational resilience in the region.
K Balasubramanian said Mr Merchant’s experience and leadership would support the bank’s growth ambitions while maintaining high standards of control. “His deep familiarity with Citi and strong execution capabilities will be valuable as we continue to build a resilient and well-governed franchise in India,” he said.
Varittha Prichapanich described Mr Merchant as bringing a combination of operational expertise, technology knowledge and a strong risk mindset. She said his understanding of India and the wider Indian subcontinent would play a key role in strengthening governance and delivery across the business.
Mr Merchant has more than 25 years of experience in banking, spanning operations, technology, and risk and controls. He most recently worked within Citi’s Asia South Technology Controls team, supporting key markets including India, Sri Lanka and Bangladesh.
Before rejoining Citi, he spent two and a half years at JPMorgan, where he served as Business Risk and Controls Lead for the Payments business in Asia. In that role, he oversaw regional risk frameworks and acted as India Site Lead for Global Payments Risk and Controls.
Mr Merchant previously spent nearly two decades at Citi, holding senior leadership positions across operations, technology and control functions. He is a commerce graduate and an alumnus of the Indian Institute of Management Bangalore.
