Citi announces internal promotions, search for successors underway

CITI on Thursday (Jun 23) announced the appointments of 2 cluster heads in Asia with immediate effect.

The bank’s Singapore Citi country officer (CCO) and head of South-east Asia & Asean, Amol Gupte, has been named head of Citi’s South Asia & Asean (SAA) cluster. CCOs of India, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam will report to Gupte.

Tim Monger, who has served as chief financial officer (CFO) for Asia-Pacific at Citi since 2019, will take on the role as head of the North & East Asia cluster. Monger will oversee the CCOs of Australia, China, Hong Kong, Korea and Taiwan.

Citi Asia-Pacific chief executive Peter Babej shared in a Jun 23 internal memo that the bank intends to post the Singapore CCO role “shortly” with Gupte’s appointment as head of the SAA cluster.

In his memo, Babej highlighted Gupte as one of Citi’s “most seasoned leaders in the region”, having held several senior roles in banking and country management in his more than 30 years with Citi. 

Prior to the roles as Singapore CCO and Asean head which he has held since 2016, Gupte also headed Citi’s Asia-Pacific treasury and trade solutions business, among other senior treasury and trade solution roles globally.

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Meanwhile, Monger will continue in his role as CFO for Asia-Pacific until his successor is announced. The role will also be posted.

Monger joined Citi in 2017 as head of productivity from Boston Consulting Group, where he was a partner and head of UK financial services.

He took on a leadership role over the last year to execute Citi’s strategy refresh through its consumer bank divestitures across Asia and EMEA (Europe, the Middle East and Africa), helping to set the bank’s strategic agenda and guide its investment priorities. 

“Our opportunity in Asia is greater and more multifaceted than ever, our strategy is clearer than ever, and the new regional leadership structure introduced earlier this year will position us perfectly to win for Citi,” said Babej.

Amendment note: An earlier version of this article incorrectly stated Gupte was head of Citi’s Asia-Pacific business. He headed the Asia-Pacific treasury and trade solutions business.