Indian origin Anand Selvakesari, who is the chief executive – personal banking and wealth management -- at Citigroup, has been given the additional charge of chief operating officer (COO) of the United States headquartered bank.
“Anand Selvakesari will become Citi’s chief executive officer with immediate effect…and continue to lead personal banking and wealth management,” an internal note issued by the bank on March 22, said.
Anand Selva – as he is known in the banking circles – is a 32-year Citibank veteran, will be taking over the role from Karen Peetz, who plans to retire in May.
Selva, who is a part of Citi’s executive management team, currently was responsible for Citi’s personal banking business in the United States. Previously, Selva served as the chief executive officer (CEO) of a global consumer bank, responsible for the consumer banking businesses across 19 markets globally.
Selva was heading the Citi’s consumer banking business in India between 2011 and 2014. Before that he was heading the same business in China.
In 2014, he given the responsibility to lead consumer banking for ASEAN cluster and India.
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Selva as the head of the US consumer bank of Citigroup also led the seamless client experience across Retail Banking, Citi Retail Services and Branded Cards. Under his leadership, the business drove significant growth in deposits, loans, mobile users and Citigold clients and Citi was recognized for three consecutive years as the best bank for high net worth families.
A bachelors in engineering, with a specialisation in mechanical engineering, and Selva also earned an MBA in finance and marketing from Maduari Kamraj University.
He was head of consumer banking for the Asia Pacific, leading the consumer and commercial banking businesses across 17 markets in Asia and Europe, the Middle East, and Africa. Under his leadership, the bank delivered eight consecutive quarters of revenue growth and raised the bar on the client experience to earn numerous accolades as the best bank in Asia.
