Financial service Citi has appointed Anand Selvakesari as head of consumer banking for Asia Pacific.
Selvakesari’s appointment is effective July 1 and he is taking over from Jonathan Larsen. Selvakesari will report to Stephen Bird, CEO global consumer banking, and Francisco Aristeguieta, Citi’s Asia CEO.
Selvakesari will manage all of Citi’s consumer businesses in Asia across the 12 markets that Citi offers retail banking, wealth management, cards and mortgages in the region.
During his 23 year Citi career, Selvakesari has led Citi’s consumer bank in China and India and was most recently Southeast Asia cluster head for consumer banking. Taking up this role in December 2013, Selvakesari was responsible for the consumer banking businesses in the ASEAN cluster, including Singapore, Malaysia, Indonesia, Philippines, Thailand and Vietnam as well as India.
A Citi veteran, Selvakesari began his career in India in 1991 and was India consumer head. Prior to this, Selvakesari was head, consumer banking, Citi China from 2008. He served as the retail banking head in Taiwan from 2004 to 2006 and eight years in regional roles in Singapore, where he held various positions in investments, wealth management and retail banking from 1996 to 2004.
Meanwhile, Larsen will focus on his role as global retail banking and mortgage head with the additional responsibilities of US retail banking and mortgage.
Bird said, “Selvakesari has a deep knowledge of Consumer Banking across the region. He also understands the importance of ensuring Citi is the leading digital bank in the world and will build further on the success the bank is having with digital in Asia.”