Strategy & Practice Management
Citi Appoints Fabio Fontainha as Head of Retail Banking for Asia Pacific and EMEA
Citi has appointed Fabio Fontainha as Head of Retail Banking for Asia Pacific and EMEA, reporting to Gonzalo Luchetti who was named Head of Consumer Banking for Asia Pacific and EMEA in September 2018.
In his new role, Fabio has oversight of Citi’s Retail Banking and Wealth Management businesses across 12 markets in Asia Pacific and five in EMEA – Poland, Russia, UK, UAE and Bahrain. Prior to his latest appointment, Fabio was ASEAN Cluster Head for the Asia Pacific Consumer Banking business since December 2016.
As ASEAN Cluster Head, Fabio is credited with the growth of the business in the region, having achieved record profits and business transformation through a focus on digitization and strategic partnerships. Citi also completed the acquisition of a credit card and an unsecured personal loans portfolio from TISCO in Thailand under Fabio’s leadership.
Commenting on Fabio’s latest appointment, Gonzalo Luchetti said, “Fabio has a proven track record and a wealth of experience in Consumer Banking, including in Asia. Given his previous roles and the results he has achieved, I am confident that Fabio will lead our Retail Banking business in Asia Pacific and EMEA to greater success and growth.”
Fabio joined Citi in 1994 as a Management Associate in Brazil. He has since held roles of increasing seniority within the Consumer Banking franchise, including Head of Consumer Banking for Malaysia, Head of Retail Banking for Japan and senior roles in International Personal Banking for Latin America.
Before taking on the role of ASEAN Cluster Head, Fabio was Head of Consumer and Commercial Banking for Latin America (excluding Mexico) and Head of Consumer Banking for Brazil. As Head of Consumer Banking for Latin America, Fabio led the sale of Citi’s Consumer Banking businesses in Argentina, Brazil and Colombia.
Citi’s Consumer Banking business in Asia and EMEA has reported nine consecutive quarters of growth. In the third quarter of the year, the business reported a 7% increase in net income to USD382 million. For the nine months of 2018, revenues were up 4% to USD5.7 billion and net income increased by 19% to USD1.1 billion.
Citi’s consumer bank in the region has more than 33 million retail accounts. Citi has digitized its wealth management business tools with the launch of portfolio digital wealth management tools including Portfolio 360, Total Wealth Advisor and the Citi Diversification Index. This has helped support double digit growth in client AUMS which stand at USD256 billion, making Citi one of the region’s leading wealth managers.
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