(Adds Citi comment in paragraph 3 and 4)

BENGALURU, Aug 22 (Reuters) – Citigroup said on Tuesday Ravi Kapoor will retire as head of banking, capital markets and advisory (BCMA) for South Asia and India after 18 years with the U.S. bank.

K Balasubramanian, currently head of corporate bank for Citi India, will take on Kapoor’s role.

Kapoor, who reached the superannuation age last year but continued in his role at Citi’s request, is “actively thinking about professional and entrepreneurial opportunities”, Citi said.

“Over (the) last 13 years in his role as BCMA Head, he has been instrumental in developing deep client relationships with large Indian conglomerates, mid-market companies and market participants at (the) senior most level,” Citi said. (Reporting by Chris Thomas in Bengaluru; Editing by Shweta Agarwal and Shinjini Ganguli)

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