Citi to appoint new consumer banking head for Asia Pacific in leadership reshuffle

Mr Gonzalo Luchetti will move on to lead Citi's consumer banking unit in the United States from Feb 1.
Mr Gonzalo Luchetti will move on to lead Citi's consumer banking unit in the United States from Feb 1.PHOTO: CITI

SINGAPORE - Citi will embark on a "thorough search" for a new consumer banking head for Asia Pacific and Europe, the Middle East and Africa (EMEA), as its current executive takes on a new role.

Mr Gonzalo Luchetti, who has filled the position since 2018, will move on to lead Citi's consumer banking unit in the United States from Feb 1.

He takes over the reins from Mr Anand Selva, who was promoted to global consumer banking head in November last year.

Meanwhile, Mr Selva is succeeding Ms Jane Fraser, who will next month become Citi's chief executive and the first woman to lead a major Wall Street bank.

"We will begin a thorough search for a new head of the Asia Pacific and EMEA Consumer Bank immediately," said Mr Selva in an internal memo seen by The Straits Times.

He added that the leadership reshuffle enables career development through "career mobility and broadening leadership experience".

A 14-year Citi veteran, Mr Luchetti is no stranger to the US. He was previously the global head of wealth management and insurance in the country before he moved to Asia.

Mr Selva said that as Asia Pacific and EMEA consumer banking head, Mr Luchetti maintained profitability during the Covid-19 crisis and drove double-digit growth in mobile users, investment revenue and net new money last year.

Complaints also fell by 50 per cent over the past two years.