TR Ramachandran who is heading Citi Bank's retail banking will take over as the CEO of Aviva India Life Insurance. He is taking over the post from Bert Paterson who will end his tenure soon. The appointment of Ramachandran surprised banking and insurance sector. He is a high-profile banker, and helped Citi to grow up and develop the largest retail portfolio among foreign banks in India.

 

New job would come up with new challenges for him, the challenge before him would be to leverage brand awareness and convert the same into growth in business. Incidentally, Ramachandran is the first Indian professional to head the joint venture; till now, deputed senior executives were taking care of India operations of the firm.

 

Aviva which is the largest insurer of UK has been lagging behind in the Indian market for the firm went for a strategy that is entirely different from other insurance firms. Also, its partnership with Indian firms has not been beneficial for it. One of its main distributors, Canara Bank has started its own insurance firm. Similarly, another partner Centurion Bank has been bought up. Now, firm is focusing on agents and improved distribution.