Citi names Indian origin Selva as COO to lead risk management overhaul

Veteran company executive previously handled roles in consumer banking, retail, cards

Anand Selva, an Indian-origin senior executive at Citigroup, has been given the additional role of chief operating officer (COO) of the US bank.

Selva, who is now chief executive--personal banking and wealth management--at Citigroup, in his new role will oversee the bank’s work as it changes its risk management and internal control systems. Selva, a 32-year Citibank veteran, is taking over as COO from Karen Peetz, who retires in May.

Selva, who is a part of Citi’s executive management team, in his present role is responsible for the company’s personal banking business in the US. Selva earlier served as Citigroup’s chief executive officer (CEO) for consumer banking businesses in 19 global markets.

Selva, at Citigroup, led the seamless client experience across Retail Banking, Citi Retail Services and Branded Cards. Under his leadership, the business drove significant growth in deposits, loans, mobile users and Citigold clients and Citi was recognized for three consecutive years as the best bank for high net worth families.

Earlier, he was head of consumer banking for the Asia Pacific, leading the consumer and commercial banking businesses across 17 markets in Asia and Europe, the Middle East, and Africa. Under his leadership, the bank delivered eight consecutive quarters of revenue growth and raised the bar on the client experience to earn numerous accolades as the best bank in Asia.

He has also served as the head of consumer banking for ASEAN and India, leading the consumer banking businesses in Singapore, Malaysia, Indonesia, Philippines, Thailand and Vietnam, as well as India. In 2011, he became the head of consumer banking in India, and restructured the entire business and redefend consumer banking.

Prior to that, Selva served as head of Consumer Banking in China, where he grew Citi’s franchise multi-fold to become an industry leader in innovation with many first-to-market products.

Selva has a bachelor’s degree in engineering, with a specialisation in mechanical engineering. He has an MBA in finance and marketing from Madurai Kamaraj University.