Citi has named Rajeev Garg to lead its wealth business at Citibank in the United Arab Emirates (UAE), according to a press release posted on Zawya.
He will manage the development of the bank’s wealth vertical in the country, including Citigold, Citigold Private Client and credit cards.
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His remit also includes reinforcing risk and control processes to match global standards and local regulatory rules.
Oversight of the Private Bank will remain with Mohannad Sleiman.
In the new role, Garg will report to Yeo Wenxian, Head of Asia South Wealth, and will also have a reporting line to Citibank UAE CEO, country officer and banking head Shamsa Al-Falasi.
Al-Falasi said: “The UAE continues to be an important market for Citi’s wealth management ambitions. Rajeev’s appointment underscores our commitment to the country and our focus on delivering a client-centric experience across our wealth franchise. His leadership will be instrumental in strengthening our position and ensuring we meet the evolving needs of our clients in the UAE.”
Garg has 26 years of industry experience, with more than 18 of those spent at Citi in a range of positions and markets.
Most recently, he was Asia South Citigold Business execution lead, a role in which he worked on business change and performance.
Garg said: ”I am excited to take on this new role leading Citi’s Wealth business in the UAE. The UAE is a dynamic market with significant growth potential, and I look forward to working with our talented team to further strengthen our Citigold and Citigold Private Client and Citi Credit Cards offerings, drive strategic growth, and deliver innovative solutions to our clients.”
