Citigroup Inc yesterday announced the appointment of Peter Babej as its new chief executive officer for the Asia-Pacific region.
Babej will be responsible for all businesses in the 17 countries and jurisdictions where Citi is present.
Before his current role, Babej served as global head of the Financial Institutions Group. Under his leadership, Citi attained a leading position in the sector and participated in numerous landmark transactions globally.
Over the past decade, Citi has won increasing recognition as the leading global bank for financial institutions. Under Babej’s leadership, the group has participated in some of the most significant transactions in the sector, including several Asia-driven mergers and acquisitions.
Bebej will draw on his deep knowledge of the financial services landscape in Asia, where Citi continues to see great opportunities, including fast-growing digital adoption, for which it is well-positioned given its footprint and capabilities.
Prior to joining Citi, Babej held senior roles at Deutsche Bank AG and Lazard Ltd, where he advised financial institutions across North America, Europe and Asia.
Babej will begin transitioning to this new role immediately.
Citi has performed strongly in the Asia-Pacific region. The company released its third-quarter results on Tuesday, which showed that revenue grew 7 percent year-on-year to US$4.01 billion and net income rose 10 percent to US$1.27 billion during the same period.
Asia Pacific is Citi’s second-largest region outside North America and contributes about one-fifth of revenue and close to a third of net income.