Citi is an American multinational investment bank and financial services company based in New York City.
This year’s Highly Commended award for Leading Light the Americas has been won by Debopama (Debo) Sen, Head of Payments, Services, Citi. Debo’s 29-year career at Citi exemplifies hard work, innovative thinking and a compassionate and inclusive management. She is resilient and driven but still always finds the time to collaborate with and support her teammates, epitomising the value of calm, balanced and thoughtful leadership in financial services.
Business success
Debo has risen up the ranks at Citi having joined in 2000 after graduating in maths from St Stephen’s College, Delhi. Her early career included stints in Citi India and Singapore, but she has been based in New York since 2021. Today she leads one of the largest P&Ls within the bank’s Services division.
Debo’s deep industry knowledge and payments expertise were highlighted during Citi’s inaugural Services Investor Day in June 2024. She was the only female business leader to present to investors, laying out the strategy and growth areas for the bank’s Payments business. By year end, the Payments team not only delivered but exceeded expectations, achieving 9% YoY growth to help the business maintain its rank as the #1 payments bank for institutional and corporate clients.
The growth in payments is being driven by the shift to digital as commerce moves online and companies sell to consumers directly. It is leading to an always on, 24/7 culture and new forms of payments that span instruments like wallets and pay by bank, with instant payments front and centre. Debo is instinctively comfortable supporting clients transition to the digital economy in this fast-changing industry.
Under her leadership Citi has grabbed a 7.8% wallet share and processes US$5trn in payments across 90+ countries and jurisdictions daily. In the last year, she has supported the launch of flagship Citi® Payments Express – a forward-looking 24/7 cloud-based solution for digital commerce at scale. So far, the new platform has expanded its capabilities and geographic footprint and is now live across 18 countries, on target to meet its goal to deploy to the top 30 markets globally.
Debo has also led Citi’s growth on USD Clearing. In 2024, volume was up 7% YoY, and Citi has more than 230 banks who are actively processing transactions using the bank’s 24/7 Clearing solution. Last June, the bank announced a first-of-its-kind collaboration with a bank in the Middle East to make cross-border USD payments available to their corporate and retail clients 24/7/365.
She has been instrumental in launching other initiatives at Citi too. Like setting up and scaling the first Citi Service Centre (CSC) for trade globally. She has also built high performing teams and develops many leaders across the firm where she is highly regarded and well respected. She has personally mentored dozens of women at Citi, helping them to advance their careers and strengthen the bank’s leadership in the process.
Debo’s inclusive leadership is noticed outside the business with clients and partners who all see her as a trusted advisor. Her global leadership is evident in her ability to serve and partner with some of the largest Fortune 500 companies and local governments around the world.
Giving back
Debo isn’t just a leading light within Citi. She is involved with multiple industry organisations. To name a few, she currently serves as a committee member on the US National Member Group at SWIFT and is on the Advisory Board of the Digitalisation Standing Committee of ABS Singapore. She is a Board Member and Risk Committee Chair at the Women in Payments ASEAN and serves on the National Payments Corporation of India which acts as a hub for all electronic payment systems in India. She is also an Advisory Board Member, Central Depositary Securities Limited India, and Board Member, SWIFT India.
Indeed, Debo is widely admired as an industry mentor in India, regularly supporting women throughout the financial services industry. She is an active member of the House of Rose Professional forum, where she was nominated as a ‘2023 Inspirational Women in Leadership for the Americas’ by the Advisory Board of Women in Payments, ASEAN. Debo was a key driver behind setting up the network in Asia.
She has also served as a board member for multiple organisations including the Grameen Foundation India (part of Grameen Foundation USA), which was founded by Mohammed Unis, and is dedicated to supporting entry-level women professionals to help them climb the corporate ladder.
Debo is an active ally to her colleagues and many others across the industry. She is engaged in Citi’s Heritage Network activities, including the Asian Heritage network, and has been a mentor for Citi’s Black Leaders Advocacy Programme. She has served as an alumni committee member and former co-chairperson of the Citi Leadership Development Programme and participated in the LGBT and Citi Women networks in Asia. She also serves on the India Diversity Council.
Debo’s constant innovation within the ever-evolving payments landscape and her track record empowering her team to drive client excellence make her a worthy Highly Commended Winner of this year’s Leading Light Americas award.
Treasury Today Group’s Within Awards celebrate exceptional talent and dedicated individuals changing their corporations from within. To find out more please visit treasurytoday.com/women-in-treasury/awards/
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