Citi appoints Kartik Mani as new Asia consumer bank head

CITI announced in an internal memo on Wednesday that Kartik Mani will be its new head of Asia Consumer Bank effective immediately, taking over from predecessor Gonzalo Luchetti, who has moved on to lead Citi's consumer banking unit in the US.

Mr Mani joined Citibank in July 2020 as the Asia regional head of cards & unsecured lending, and head of North Asia cluster. He was responsible for Citi's cards and loans businesses across Asia-Pacific (APAC) and Europe, the Middle East and Africa (EMEA), as well as Citi's consumer and wealth businesses in Australia, China, Hong Kong, Korea and Taiwan.

"Since joining our team last July, Kartik has shown himself to be a digitally focused leader who is able to deliver growth while maintaining strong discipline on risk and controls," wrote Peter Babej, chief executive officer (CEO) of Citi Asia Pacific, in the memo. "He has led the revitalisation of our Cards and Lending business in Asia while deftly navigating the pandemic.

"With his expertise in digital lending, his drive toward simplification, and his commitment to the diversity and engagement of our team and to top-tier risk and controls, I am confident Kartik will continue to guide our Asia Pacific and EMEA team toward excellence," he added.

Mr Mani, who will be based in Singapore, will report to Mr Babej and Anand Selva, CEO of global consumer bank, Citi. He will also join the APAC operating committee.

Prior to joining Citibank, Mr Mani was the global head, consumer credit cards and lending, at American Express since 2016, leading the company's proprietary and co-branded consumer card and non-card businesses. Before that, he served as the global head of consumer lending, card and payment products at Standard Chartered Singapore for almost two years, and a similar stint in HSBC right before. He was also the head of cards and unsecured credit for Lloyds Banking Group for four years.

Mr Mani holds a Bachelor's degree in mechanical engineering from The Indian Institute of Technology in Kanpur, and an MBA from The Indian Institute of Management in Ahmedabad.