Citibank's new Advisory Board for India
By
siliconindia | Friday, 11 February 2011, 11:23 IST
Mumbai: Citibank India has announced a new advisory board for its operations in India. Victor Menezes, former Vice-Chairman will now head the board as Chairman.
Rest of the members of the board include Harish Manwani, Unilever President for Asia, Africa, Central and Eastern Europe, Nanoo Pamnani, ex-CEO of Citibank India, Pradeep V Bhide, former Revenue Secretary, Ministry of Finance, Government of India, Anil Menon, President globalization and intelligent urbanization, Cisco. Shirish Apte, CEO Citibank Asia Pacific and Pramit Jhaveri, CEO Citibank India will also join the board as Citi representatives.
According to Citi, the strength of the board demonstrates India's importance in its strategy for emerging markets. The board will solely provide counsel to the strategic matters of Citi's management team in India. Board emphasizes on providing counsel on matters related to developing the corporate and consumer franchise, distribution strategy, brand building and positioning and talent development.
Citibank might also be trying to revive its image of a trustworthy organization for its clients. Its image got tarnished two months ago after
400 crore fraud got revealed at Citi's Gurgaon branch. Now the board wants to improve its governance so that they can avoid such unfortunate incidents in future.
