Citigroup Names Peter Babej as CEO for Asia-Pacific Region
October 16 2019 - 10:43PM
Dow Jones News
By Ben Otto
Citigroup Inc. (C) has named Peter Babej as new chief executive
officer for the U.S. banking giant's Asia-Pacific operations.
Mr. Babej, previously the global head of the bank's financial
institutions group, will transition into the role immediately,
Citigroup said in a statement Thursday.
The Asia-Pacific region is Citi's second largest outside North
America, contributing around a fifth of the bank's revenue and
about 27% of its net income. Citi Asia posted about $4 billion in
revenue in the third quarter, up 6% from a year earlier.
Under Mr. Babej's leadership, "the group has participated in
some of the most significant transactions in the sector, including
several Asia-driven mergers and acquisitions," Citigroup chief
executive Michael Corbat said in the statement. He said the bank
continues to see significant business opportunities in Asia,
"including fast-growing digital adoption."
Mr. Babej takes the reins from interim CEO Tim Monger, who
remains the company's chief financial officer for the region.
Citigroup's previous Asia CEO, Francisco Aristeguieta, left the
bank in April to become State Street Corp.'s chief executive for
international business.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
October 16, 2019 22:28 ET (02:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Citigroup (NYSE:C)
Historical Stock Chart
From Mar 2024 to Apr 2024
Citigroup (NYSE:C)
Historical Stock Chart
From Apr 2023 to Apr 2024