BANK - JAKARTA. Citigroup has announced the appointment of Peter Babej as Chief Executive Officer (CEO) of Asia Pacific Region.
He has been at Citi since 2010 when he joined as Co-Head of the Financial Institutions Group in Institutional Clients Group (ICG). He became the sole head of the group in 2017. Prior to joining Citi, Babej held senior banking roles at Deutsche Bank and Lazard.
“Under this new role, he will draw on his deep knowledge of the financial services landscape in Asia, where Citi continue to see great opportunities, including fast-growing digital adoption, for which Citi is wellpositioned given Citi’s footprint and capabilities,” Citigroup’s CEO Mike Corbat said in the memo.
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He will take over the position from Tim Monger, who was acting as interim CEO of the Asia Pacific region over the past several months. Monger will now focus on his responsibilities as chief financial officer of the region and help Mr. Babej in the year-end processes.
In its latest third-quarter results on Tuesday, Citi in the Asia-Pacific reported a 7% increase in revenue to US$ 4.01 billion as well as a 10 % incrase in net income to US$1.27 billion.
The Asia-Pacific is Citi's secondlargest region outside North America, contributing around one fifth of revenues and close to a third of net income.
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