US based Citibank has elevated its former India consumer banking chief Anand Selvakesari as CEO global consumer banking in the latest addition to the long list of Indian executives rising to the top in foreign banks. Selvakesari will take over from Jane Fraser who was earlier this year named as the first women CEO of the New York based lender. Fraser is set to take over as CEO in February 2021.
In an internal email seen by ET, outgoing CEO Mike Corbat said Selvakesari will take over as chief of global consumer banking in January. “Anand brings an unmatched depth and breath of global consumer banking expertise spanning product, country and regional roles in the US and Asia. As CEO of US consumer banking since 2018, he has unified our products into one client-centric business, strengthened talent and deployed a digital first strategy that is elevating the growth trajectory of our franchise,” Corbat said.
Selvakesari has been with Citibank for 29 years and has rapidly risen through the consumer banking hierarchy in the last 10 years. He was Citibankâs consumer banking head in India between July 2011 and December 2013 after which he was promoted to head consumer banking for the Association of South-East Asian Nations (Asean) region which includes Singapore, Malaysia, Indonesia, the Philippines, Thailand and Vietnam.
In 2015 he was promoted as head of consumer banking for the Asia Pacific region, making him in charge of that business across 12 markets in the region. He took over as head of US consumer banking in 2018 and is also director at Citibank China. Born in India Selvakesari completed his masters in business administration in finance & marketing at Madurai Kamaraj University in 1991.