Citi has appointed Matt Read as Citibank Singapore’s retail banking head, effective April 17.
In the new role, Read will lead the Singapore retail banking franchise, one of the global bank’s largest and most innovative businesses.
Read will be part of the senior management group for Citibank Singapore, reporting to CEO Brendan Carney and Citigold Private Client (CPC) international head Shyam Sambamurthy.
He has held senior roles in sales and distribution; and operations and compliance, with significant country leadership experience in blue chip companies such as Australia and New Zealand Banking Group and GE Capital.
Read joined Citi in 2017 as head of sales and distribution for 17 markets across Asia Pacific as well as Europe, the Middle East and Africa, overseeing sales productivity across Citi Priority, Citigold and CPC segments. He has also been responsible for managing the digitisation and transformation of Citi’s branch network.
Citi aims to extend its leadership across Singapore and Hong Kong by adding US$150 billion ($200 billion) in assets under management (AUM) by 2025.
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Its overall goal in Singapore is to triple its AUM and increase wealth clients by 2.5 times by 2025. The bank's Singapore market has a CAGR of 45% in new Citigold plus CPC clients since 2020.
The bank also saw a similar surge in net new money since 2020 on the back of rigorous client engagement and competitive deposit promotions.
