Citi's South Asia chief Sanjay Nayar quits

Global financial giant Citi said on Thursday its South Asia chief Sanjay Nayar has quit the bank and has been replaced by Mark Robinson.

"Mark Robinson has been appointed chief executive officer of Citi South Asia... Robinson succeeds Sanjay Nayar, who is leaving the firm to pursue other opportunities," Citi said on Thursday.

Robinson, it says, will operate from India's financial hub Mumbai and will look after Citi's banking franchise in India, Sri Lanka and Bangladesh.

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Sanjay Nayar is said to be joining Kohlberg Kravis Roberts & Co as its CEO and country head in the country.

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"We are fortunate to have Mark Robinson joining the team in Asia-Pacific and our South Asia franchise will benefit greatly from his professionalism, leadership and acumen," Citi's Asia-Pacific CEO Ajay Banga said in a press release.

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Robinson is a Citi veteran who has spent the majority of his career in emerging markets, the release said.

"Citi has built an extensive franchise in India, Sri Lanka and Bangaldesh. I look forward to working with the excellent team and deliver the full power of our universal banking model to clients in the region," the new CEO said.