Gofran Chowdhury has been appointed to the role, where he will lead the sales and distribution division in Citi’s local retail banking and wealth management business.
Mr Chowdhury has worked Citi’s wealth management division for more than 10 years, beginning as a relationship manager and continuing to become head of wealth management advice.
Citi Australia head of retail banking Kate Luft commented the appointment has reflected Citi’s growth, as it looks to expand its investments business.
“His breadth of experience across different facets of the business is a strong asset that will be instrumental in driving a strategic approach to growth,” Ms Luft said.
Citi reported its wealth management business saw a successful first half, despite the challenges presented by COVID-19.
“We’ve had a record year in bonds and FX. If we compare Q1 2020 with Q1 2019, we’ve seen a 44 per cent increase in bond trading volume and a 67 per cent increase in FX trading volumes,” Ms Luft said.
The company has boosted the number of relationship managers in its wealth business, with the addition of 14 hires within the last year.
Mr Chowdry said it was an exciting time to take the role, as Citi is “poised for growth across its wealth management and mortgage business”.
