Citigroup, Inc. (Citi) has appointed Paul A. Favila as the new country officer and chief executive officer (CEO) for the Philippines.
Favila, who has been with the bank for 29 years, will become Citi Philippines’ first Filipino country head in over 35 years, pending regulatory confirmation.
“I am deeply honored by the trust placed on me by Citi. We are excited by the economic opportunities that abound in this country and will continue to focus on enabling growth and progress in the Philippines. As we have done in our past 120 years, we will bring the full power of Citi’s global network in delivering excellent service to our clients. I look forward to leading our 7,000-strong franchise into the next era of global business,” Favila said.
He currently serves as Citi Philippines’ country treasurer and markets head, overseeing the bank’s foreign exchange, rates, commodities, and structured solutions businesses in the country.
As the new head of Citi Philippines, Favila will oversee all Citi businesses across the franchise in the Philippines and report to Amol Gupte, Citi Head of South Asia and ASEAN.
Favila will succeed Aftab Ahmed, who was appointed Citi Taiwan CEO in January.
