2013-10-31 09:32:04 -
Citi today announced the appointment of Anil Wadhwani as Head of Consumer Banking in Europe, the Middle East and Africa (EMEA). Citi has a Consumer and Commercial Banking presence in 10 markets in EMEA, serving 2.5 million unique customers and 17,000 commercial clients with a network of 202 branches and a credit card market share exceeding 5 per cent.
Anil most recently served as the Head of Citi’s Cards and Unsecured Loans business for Asia and the Head of its Consumer Banking business in South East Asia. His successor will be named in due course. Anil replaces Marc Luet who was recently appointed Cluster Head for Central and Eastern Europe and Citi Country Officer (CCO) for Russia.
“With more than two decades
of experience in Consumer Banking in Asia, Anil is well-suited to lead EMEA Consumer Banking," said Manuel Medina-Mora, Co-President, Citi, and CEO, Global Consumer Banking.
“Anil’s expertise serving target segments and markets, delivering innovative client-centric solutions, and driving efficiency will ensure we capture the growth opportunities ahead.”
CEEMEA is a particular area of potential growth due to rapidly expanding affluent and emerging affluent customer segments, relatively low consumer leverage and accelerating urbanisation. According to the consultancy McKinsey & Co., the potential wallet share in Citi’s markets is around US$110 billion and is expected to grow at 11 per cent over the next five years.
“The emerging market consumer banking and wealth management businesses will be key growth areas in this region for many years to come,” said Jim Cowles, CEO of Citi’s EMEA region. “We believe the three trends of urbanisation, digitisation and globalisation will continue to be on our side and contribute to the long term profitability of those businesses.”
A seasoned Citibanker, Anil began his career with Citi in India in 1992 and has since built a wealth of experience in the retail banking and cards businesses across multiple geographies. Anil led the ground-breaking Citibank Suvidha initiative in India, helped change the competitive landscape in Singapore, and launched both the Ultima and Prestige credit cards. Additionally, he partnered closely at the country level to drive retail banking profitability through customer engagement and compelling value propositions.
"I’m excited by the challenge of leading Citi's retail banking, credit card and wealth management businesses in EMEA," said Anil Wadhwani. "The strategy in the region is aligned with the broader strategic direction of the bank, which focuses on delivering Citi's unparalleled geographic reach and emerging markets expertise to global consumers in top cities.
We will focus on the customer experience built on the expertise of our people, products and platform. I believe our Consumer Banking franchise is well positioned for future growth in EMEA.”
Strategically located in the world’s top cities, Citi Global Consumer Banking provides retail, small business and commercial banking, wealth management, mortgages, and credit cards to more than 100 million clients in 36 countries. Citi is the largest issuer of credit cards globally and has a network of approximately 3,800 branches in over 700 cities worldwide.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.
Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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