Citi Asia Pacific CEO departs

by Richard Kilner

Story link: Citi Asia Pacific CEO departs

US banking giant Citi has announced that the chief executive officer of Citi Asia Pacific, Ajay Banga, is to part ways with the firm.

He joined the bank in the mid-90s and has held the post of head of CitiFinancial and the U.S. Consumer Assets Division, as well as serving as chairman and CEO of Citi’s International Global Consumer Group.

Banga’s successor is presently unknown but expected to be named shortly.

Vikram Pandit, chief executive officer of Citi, has paid tribute to Banga’s contribution to the bank and his leadership in the role of Citi Asia Pacific CEO.

Pandit also lauded the efforts of the executive committee and colleagues in the region, and expressed his confidence in the bank enjoying continued success in Asia Pacific.

Banga has described his time with the bank as a privilege, and expressed his pride at working with terrific colleagues, adding that they are a strong reason for Citi to be confident in its prospects for the future.