Citi on Thursday named Anand Selvakesari as its head of consumer banking for Asia.
He will manage all of Citi’s consumer businesses in Asia across the 12 markets that Citi offers its retail banking, wealth management, cards and mortgage services.
During his 23-year Citi career, Selvakesari has led Citi’s consumer bank in China and India and was most recently the head of consumer banking for Southeast Asia.
Selvakesari will report to Stephen Bird, Citi’s CEO for global consumer banking, and Francisco Aristeguieta, Citi’s Asia CEO.
Selvakesari’s appointment is effective July 1 and he is taking over from Jonathan Larsen, who will focus on his role as global retail banking and mortgage head with the additional responsibilities of US retail banking and mortgage.
Citi has more than 500 branches in nearly 150 cities in Asia with more than 7 million active digital banking users. The bank has more than $255 billion in client assets under management. In 2014 Citi’s consumer business generated $7.5 billion in revenues, or 51% of total Asian revenues.
Selvakesari was formerly head of consumer banking for Asean and India. Prior to his role in India, Selvakesari was head of consumer banking for China at Citi from 2008.
He served as the retail banking head in Taiwan from 2004 to 2006 and spent eight years in regional roles in Singapore, where he held various positions in investments, wealth management and retail banking from 1996 to 2004.
