Insight & Analysis

Press release: Citi appoints Aftab Ahmed to lead bank’s operations in Taiwan

Published: Jan 2023

5th January 2023 – The CTL board today (1/5) elected Aftab Ahmed, the former Citi Country Officer (CCO)for the Philippines, as the new chairman of Citibank Taiwan Limited (CTL), subject to regulatory approval.

Aftab takes over the position from Paulus Mok, who as previously announced in December, retired as CTL Chairman and Citi CEO for Taiwan, effective January 1, 2023. Aftab, a 40-year plus Citi veteran, has also previously worked in Taiwan as Global Consumer Banking Operations and Technology (O&T) Head and thus has a good understanding and knowledge of the local market.

“Taiwan is one of Citi’s most important markets in the region where we have a market leading institutional franchise and a strong commitment to responsible and sustainable growth. I look forward to Aftab building on this strong franchise and supporting our clients further,” said Tim Monger, Citi’s Head of North and East Asia.

Aftab said, “We are grateful for Paulus’ 28-year contribution to Citi. Under his leadership, Citi Taiwan has consistently delivered strong results and has been smoothly moving forward with the GCB Divestiture. I look forward to building on this legacy and supporting our clients as we are committed to further growth in Taiwan.”

Paulus said, “Citi Taiwan has the best talent in the market. With this top-notch team and Aftab’s more than 40 years of extensive experience gained from regional management, technology and business, Citi Taiwan will continue to shine.”

Under Paulus’s leadership, Citi Taiwan successfully helped clients achieve sustainable growth and laid a solid foundation with ESG strategy as a core competitive advantage. Citi was named the Best International Bank in Taiwan by FinanceAsia for 26 consecutive years and the Best International Bank by The Asset Magazine for 19 consecutive years. The firm also consistently won the honor of Best Bank from Euromoney and Best International Bank from Asiamoney.

Aftab has held a number of senior roles at Citi including CCO/CEO for Egypt, CCO/CEO for Hungary, Consumer Country Business Manager for Pakistan, Corporate Bank Head in New Zealand, Branch Expansion Director in New York, Consumer Finance Head and Regional Sales Development Director in Singapore, and Consumer Banking O&T Head in both Taiwan and Germany.

In his different business and leadership roles across multiple geographies, Aftab has been extensively involved in and has successfully contributed towards country and regional initiatives to: grow franchises; expand the branch footprint; increase the customer base and deepen relationships; and protect as well as grow portfolios. Aftab believes that leadership is not just about leading people to achieve goals and deliver results, it is also about mentoring and contributing towards the growth and development of his team.

Since the opening of the first representative office in 1964, Citi has been present in Taiwan for close to 60 years. Citi is the largest foreign bank in Taiwan and banks over 700 MNCs, over 1,500 SMEs and over 100 top local corporates. Citi will continue to focus on clients’ needs, support local market development and foster sustainable growth in the corporate sector.

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