Mark Robinson has been appointed as a New CEO of Citi south Asia, replacing Sanjay Nayar, who is taking charge of Indian operations of world's leading buyout firm; Kohlberg Kravis Roberts & Co (KKR). Nayar was heading the Indian operations since 2002. 

KKR is interested to expand its base in India in private equity, infrastructure, mezzanine and distressed funds. It has already invested over $1 billion in the Flextronics International and Bharti Infratel, the telecom tower arm of Bharti Airtel.

Mark would join the Asia Pacific executive committee besides leading the banking operations in India, Sri Lanka and Bangladesh. He is known as expert corporate operator, having expertise in emerging markets. His appointment is aimed to bring fresh mind in the management who can make decisions without any emotional ties. He is currently working as the president of Citibank ZAO to head its Russian division. He has also worked in Turkey, Israel, Hungary, Pakistan, Hong Kong and US.

Citibank is facing the heat of the global meltdown and is expected to start retrenchment drive of around 52,000 bank’s employees. India and South Asia is likely to be much affected from layouts. The bank would lay off senior officials in corporate and investment banking besides consumer finance staff.