The new head covers the APAC and EMEA regions, with responsibility for the wealth management segment.

Citigroup has appointed Fabio Fontainha as head of retail banking for Asia-Pacific and Europe, Middle East and Africa. This is a segment covering wealth management for mass affluent and high net worth individuals but not including the private bank, which serves those more towards the ultra-high net worth end of the spectrum. Fontainha replaces Gonzalo Luchetti, who was named Asia-Pacific and EMEA consumer banking head in September.

Fontainha reports to Luchetti. The new appointee oversees Citi’s retail banking and wealth management businesses across 12 markets in APAC and five in EMEA, Poland, Russia, the UK, the UAE and Bahrain.

Prior to his latest appointment, Fontainha had been the ASEAN cluster head for the Asia-Pacific consumer banking business since December 2016. He joined the US banking giant in 1994, as a management associate in Brazil. Fontainha has had several roles in the consumer banking area, with postings in Malaysia, Japan and Latin America.