The move is an example of how Vietnam and other Southeast Asian countries are important growth markets for banks.

Citi Vietnam has appointed Ramachandran A S as its country officer. In this role Ramachandran A S, known as RamC, will oversee Citigroup’s operations in the Southeast Asian country and will be the main regulatory representative for the US group in Vietnam. 

A 27-year Citigroup veteran, RamC was previously global emerging markets coverage head for Citigroup’s global subsidiaries group in London. In that role, he was responsible for building the firm's business with the subsidiaries of multinational clients from rapidly globalising countries around the world. 

Prior to that, RamC was based in Singapore leading regional relationship coverage of Citigroup’s largest multinational clients across Asia-Pacific. RamC relocated to Ho Chi Minh City in September 2021 and received official approval from the State Bank of Vietnam for his new role as CCO in Vietnam in December.

“ASEAN (Association of Southeast Asian Nations), including Vietnam, is a strategic priority for Citi and with the appointment of RamC as Vietnam CCO, we are well positioned for future growth in the country,” ASEAN head, Amol Gupte, said.

The US bank has been established in Vietnam since 1994, with two branches in Hanoi and Ho Chi Minh City.

Vietnam has attracted a number of international private banks. Credit Suisse has recently made senior hires in Vietnam, for example.