iNDICA NEWS BUREAU-
Indian American Anand Selvakesari has been appointed as the Chief Operating Officer of Citigroup. The announcement was made by the US-based bank in an internal note. Selvakesari, 32, who is now the head of consumer banking operations, will take on the additional role with immediate effect. He will take over after the current COO Karen Peetz retires. The new COO will be overseeing the group’s ongoing transformation program.
Selvakesari was the CEO of Global Consumer Bank, responsible for consumer banking businesses across 19 markets globally. From 2019 to 2020, Anand served as the Head of the U.S. Consumer Bank and led the delivery of a single, 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. Citi was recognized for three consecutive years as the Best Bank for High Net Worth Families (Kiplinger’s) and as #1 in Customer Satisfaction by the American Customer Satisfaction Index (2019).
A Citi veteran, Anand began his career with Citi India in 1991 after earning a bachelor of engineering (mechanical engineering) and an M.B.A. in finance and marketing from Madurai Kamraj University in India. He is currently responsible for the company’s US Personal Banking business. Prior to this, Selva had held numerous significant roles within Citigroup over the past three decades.
Selvakesari is a member of the Citi Executive Management Team and has over 30 years of experience in consumer banking, wealth management, and commercial banking, at Citi across multiple markets globally.
From 2015 to 2018, Anand was Head of Consumer Banking for Asia Pacific, with responsibility for the Consumer and Commercial Banking businesses across 17 markets in Asia and EMEA. He delivered eight consecutive quarters of revenue growth and continually raised the bar on the client experience to earn numerous accolades as the best bank in Asia (Euromoney, The Asset). Anand also held a number of regional and country roles, including Head of Consumer Banking for ASEAN and India, leading the consumer banking businesses in Singapore, Malaysia, Indonesia, Philippines, Thailand and Vietnam, as well as India. He became the Head of Consumer Banking in India in 2011, where he transformed and restructured the business and re-defined consumer banking.
From 2008 to 2011, Anand served as Head of Consumer Banking in China. The franchise grew multi-fold to become an industry leader in innovation with many first-to-market products. He served as the Retail Banking Head in Taiwan from 2004 to 2006 and spent eight years in regional roles in Singapore, where he held various positions in Investments, Wealth Management, and Retail Banking.
