Citi has appointed Ashish Bajaj as head of its commercial bank, Asia Pacific.

Citi’s commercial banking business services SME clients in the areas of cash management, foreign exchange, lending, trade and employee banking.

Bajaj will report to Jonathan Larsen, Asia Pacific head of consumer banking and global head of retail banking and Sunil Garg, global head of commercial bank. He replaces Gaurang Hattangdi who has been named global head of product development, commercial banking. Hattangdi will now be responsible for developing Citi’s supply chain offering.

Bajaj has worked with Citi for 26 years and was most recently regional head of relationship management, FIs, Asia Pacific. He previously managed the bank’s South Asian transaction services team in Mumbai, headed up the commercial bank in South Asia and managed global payments for cash management in New York.

Garg says: “Commercial banking is a growing business for Citi, with significant opportunities to expand our efforts to support mid-sized companies worldwide, especially in Asia. With his breadth of experience and focus on providing unparalleled service to clients, Ashish is well-suited to help us leverage those opportunities in the region.”