Citi appoints Jonathan Larsen as global retail bank head

Citi has appointed Jonathan Larsen head of global retail banking. Larsen, currently head of Asia-Pacific consumer banking, will continue to be based in Asia and keeps his regional role.

The appointment marks the first time a global leader for one of Citi’s main consumer banking units will be based in Asia-Pacific underlining the increasing importance of the region and its consumer bank to Citi globally.

To give you an idea of the significance of this franchise to Citi’s overall business, consider that in the first quarter of 2012 Asia-Pacific contributed $1.1 billion, or 37% of Citi’s global net income. The Asian consumer banking business contributed $503 million,...