Citigroup has tapped Shobhit Varshney, a longtime IBM executive, as its new global head of AI, the latest sign of how Wall Street is racing to bring artificial intelligence deeper into banking.
Varshney comes from IBM, where he was the head of data and artificial intelligence for the technology pioneer’s consulting business. At Citi, he will report to Anand Selva, the bank’s chief operating officer; and will work closely with the firm’s chief technology officer, David Griffiths, to scale AI across the company, Business Insider reported citing a memo sent to Citi employees on Tuesday.
Citi has already given about 175,000 employees access to AI tools like Stylus, Workspaces, and Assist. The bank has also begun using AI to strengthen customer service in its U.S. personal banking business through a “multi-year initiative to enhance our customers’ experience through specialized GenAI tools, driving efficiency and operational excellence,” Selva wrote in the memo.
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“With Shobhit’s leadership, we will accelerate the hard work that has been underway for more than a year to integrate the power of AI into Citi’s strategy and operations,” Selva wrote in the note to employees.”Our firmwide goals are clear: responsibly build AI capabilities that enhance the client and colleague experience, strengthen internal controls and boost internal productivity.”
“Citi is modernizing our infrastructure and automating manual processes, simplifying our ways of working and upgrading technology and platforms,” Selva wrote in the memo, adding: “Our firmwide AI integration is a natural continuation of this work.”
Varshney has worked at IBM, as well as with large organizations, to drive AI-led transformations at scale, partnering with a broad range of stakeholders, Selva noted.
“Building on this experience, he will partner closely with Citi’s Executive Management Team and leaders across the firm to co-create an agile process and data-driven approach for scaling AI responsibly across our firm.”
“Working together with our established AI community, including our AI Leads, Champions and Accelerators, Shobhit will drive adoption and deployment of AI across Citi,” he added.
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At Citi, Varshney “leads the firm’s enterprise AI strategy and drives adoption at scale … to deliver measurable business outcomes – enhancing client and colleague experiences, strengthening controls, and boosting productivity through responsible AI,” according to his LinkedIn profile.
Prior to Citi, Varshney served as Head of Data & AI for IBM Consulting across the U.S., Canada, and Latin America. Over 13 years at IBM, he spearheaded large-scale AI transformations, helping enterprises unlock the potential of Generative AI by grounding it in data and automation.
Collaborating with a broad ecosystem of technology partners, he focused on translating AI innovation into trusted, real-world business impact. A patented AI innovator, keynote speaker, and recognized industry thought leader, Varshney has received multiple accolades, including Technology Leader of the Year.
He lives in Dallas with his wife and two young children. Beyond work, he is passionate about photography, brewing craft beer, and writes the widely read newsletter AI with Whiskey, where he shares unbiased perspectives on the evolving AI landscape.