SINGAPORE - US banking giant Citi has appointed industry veteran Sujoy Ghosh as its regional head of insurance for the Asia Pacific and Europe, the Middle East and Africa (EMEA), with effect from next month.

Prior to joining Citi, Mr Ghosh was the regional head of bancassurance for Allianz in the Asia Pacific, responsible for setting up and managing all commercial and strategic partnerships across life and general insurance.

His new role falls within Citi's consumer banking business and Mr Ghosh will report to Gonzalo Luchetti, head of Asia Pacific and EMEA retail banking.

Mr Ghosh will oversee the bank's overall insurance business in the Asia Pacific and EMEA regions including responsibility for all sales, products, marketing and distribution, both physical and digital. He will work closely with Citi's cards and loans team to develop and grow the bank's insurance business.

Mr Ghosh will also lead the bank's long-term strategic relationship with AIA, which has had a bancassurance agreement with Citi since 2013.

Citi said its insurance sector is important as the bank's expansion in this business, at double digits annually since 2013, has helped support its recent growth.

"Citi has the ambition to capture a greater share of this important and growing market as more of our clients look to protect their futures and what is important to them," said Mr Luchetti in the announcement on Wednesday (Jan 24). "I am confident with Sujoy's experience and leadership and our market leading partnerships, Citi can further help our clients bridge their protection gap."

Before Allianz, Mr Ghosh served at ING in a variety of sales and insurance distribution roles including chief sales officer in Turkey, regional bancassurance head for Europe & Central and Eastern Europe, head of bancassurance for Asia Pacific, and regional head of sales training Asia Pacific. He has also worked at ABN AMRO and TATA-AIG Life.