Citi appoints Rajeev Garg as Head of Wealth for UAE
Citi has named Rajeev Garg as Head of Wealth for Citibank UAE, with the appointment taking effect on 18 June 2026. In his new role, Garg will oversee the strategic development and performance of the bank’s local wealth business, including Citigold, Citigold Private Client, and credit cards.
The appointment places Garg at the center of Citi’s wealth strategy in the Emirates, with responsibilities spanning business growth, execution of strategic priorities, and the strengthening of the bank’s risk and control framework. According to the announcement, his remit also includes aligning local operations with global standards and regional regulatory requirements.
Private banking activities in the UAE will continue to be managed separately under Mohannad Sleiman. Garg will report directly to Yeo Wenxian, Head of Asia South Wealth, while also maintaining a reporting line to Shamsa Al-Falasi, Citi Country Officer, Banking Head, and CEO of Citibank UAE.
Citigold, Citigold Private Client, and credit cards are described as core elements of Citi’s regional business in the UAE, serving a local client base with wealth management solutions and digital capabilities. Garg has been tasked with supporting the improvement of the risk environment while also enhancing the overall client experience in the market.
Shamsa Al-Falasi said the UAE remains a key market for Citi’s wealth management ambitions. She added that Garg’s appointment reflects the bank’s commitment to the country and its focus on delivering a client-centric experience across its wealth franchise.
Garg brings 26 years of industry experience to the role, including more than 18 years at Citi across multiple functions and geographies. Prior to this appointment, he served as Asia South Citigold Business Execution Lead, where he was responsible for business transformation and performance. He holds an MBA from Columbia Business School.
Industry Analysis
Citi’s decision highlights the continued importance of the UAE as a wealth management hub in the Middle East. The move suggests that global banks are placing greater emphasis on strengthening governance, enhancing client experience, and expanding affluent banking propositions in the market.
By combining wealth management and credit card leadership under one executive mandate, Citi appears to be reinforcing the strategic link between premium banking services and broader client engagement. The appointment may also signal a focus on operational discipline and regulatory alignment, both of which remain essential as wealth platforms in the UAE compete for high-value clients.
