Ahmed (pictured) is taking over from Paulus Mok who retired in January as CTL chairman and Citi CEO for Taiwan. 

Ahmed, a 40-year plus Citigroup veteran, previously worked in Taiwan as global consumer banking operations and technology head, the US firm said in a statement. He has also held a number of senior posts at Citi including CCO/CEO for Egypt, CCO/CEO for Hungary, consumer country business manager for Pakistan, corporate bank head in New Zealand, branch expansion director in New York, consumer finance head and regional sales development director in Singapore, and consumer banking O&T head in both Taiwan and Germany.

Taiwan – often in the news due to fears that mainland China may try to absorb it by military means if necessary – has seen a nunber of international banks, such as HSBC and Barclays, set up operations or expand business in the country in recent weeks (see examples here and here). 

In the different roles, Ahmed has contributed towards country and regional initiatives to grow franchises, expand the branch footprint, increase the customer base and grow portfolios, the bank said. 

“Taiwan is one of Citi’s most important markets in the region where we have a market-leading institutional franchise and a strong commitment to responsible and sustainable growth,” Tim Monger, Citi’s head of North and East Asia, said. “I look forward to Aftab building on this strong franchise and supporting our clients further."

Thanking Paulus Mok, country officer for Taiwan, for his leadership, Ahmed added: “We are grateful for Paulus’ 28-year contribution to Citi. Under his leadership, Citi Taiwan has consistently delivered strong results and has been smoothly moving forward with the GCB Divestiture.” 

Mok said: “Citi Taiwan has the best talent in the market. With this top-notch team and Aftab’s more than 40 years of extensive experience gained from regional management, technology and business, Citi Taiwan will continue to shine.”

Since the opening of the first representative office in 1964, Citigroup has been present in Taiwan for close to 60 years, making it the largest foreign bank in Taiwan. However, a year ago Citigroup said that it had agreed with Singapore-based DBS to sell its consumer banking franchises in Taiwan.