Veteran dealmaker Ravi Kapoor, Managing Director and Head of Banking, Capital Markets and Advisory, South Asia and India (BCMA), is expected to retire next month and pursue entrepreneurial opportunities after an illustrious 18-year career at Citi, according to multiple industry sources with knowledge of the situation who spoke to Moneycontrol.
Ravi Kapoor will indeed retire by the middle of September. It truly is the end of an era. One of the aforementioned individuals stated that Bala would take over and continue in his current position.
K Balasubramanian (Bala), who works with Citi, is the region’s head of corporate banking.
Another insider stated that Kapoor was preparing for an entrepreneurial play in the financial services sector in his second innings and corroborated the above transformation.
According to the Citi website, Kapoor has over 35 years of expertise in banking and capital markets and has led numerous high-profile deals in mergers and acquisitions, debt capital markets, equity capital markets, and acquisition finance. He was Executive Vice President and Head of Equity Origination and Capital Markets at DSP Merrill Lynch, India, prior to joining Citi. Kapoor, a chartered accountant, began his work with ICICI Ltd. in 1988 in the project finance division before transferring to ICICI Securities, which at the time was the company’s newly established investment banking arm.
K Balasubramanian worked with Citi for almost 25 years before taking positions at PwC and HDFC Bank as group head (corporate bank).