Citi appoints Asean head of consumer banking

CITI has appointed its head of consumer and commercial banking for Latin America to be its Asean head of consumer banking.

Fabio Fontainha, who has been with the bank for more than 20 years, will assume the new role with effect from Dec 1.

He will be based in Singapore and will report to Anand Selva, head of Asia Pacific consumer banking.

The bank's consumer banking heads in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam will report to Mr Fontainha.

Said Mr Selva: "The Asean consumer business is critical to Citi's franchise. We have leading market positions in Asean countries and Citi is well positioned for growth across our retail banking, wealth management and cards businesses with a strong digital focus."

In the most recent quarter, Citi Asia's consumer banking business reported US$1.8 billion in revenues, up 4 per cent year on year.

Globally, Citi operates in 19 consumer markets, with 12 markets in Asia, including half from Asean.

Mr Fontainha has held a number of senior roles, including head of consumer banking in Malaysia, and head of sales and distribution and consumer investments in Japan.

He spent nine years in Asia before returning to Brazil in 2013 to restructure the retail operation.