Citi's Aristeguieta talks strategy

Francisco Aristeguieta talks about his aggressive push to close branches and reallocate resources to digital as China slows down and consumers turn to fintech startups.

Francisco Aristeguieta took over as Citigroup’s head of Asia Pacific on June 1 last year. It was not ideal timing. Two weeks after he arrived, China’s stock markets crashed.

The benchmark Shanghai Composite stock market index hit a multi-year high of 5,166 points on June 12, before tumbling 25% in a month. Aristeguieta has been grappling with the fallout.

Consumers and institutional banking, gripped by uncertainty, have backed off making investments.

He has responded by closing bank branches and streamlining operations.

“These are not always easy discussions, people can hang on to the past, but I am very aggressive when it...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222