(Adds Citi remark in paragraph 3 and 4)

BENGALURU, Aug 22 (Reuters) – Citigroup mentioned 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. financial institution.

Ok Balasubramanian, at present head of company financial institution for Citi India, will tackle Kapoor’s position.

Kapoor, who reached the superannuation age final 12 months however continued in his position at Citi’s request, is “actively thinking about professional and entrepreneurial opportunities”, Citi mentioned.

“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 mentioned. (Reporting by Chris Thomas in Bengaluru; Editing by Shweta Agarwal and Shinjini Ganguli)