Citi appoints first Emirati woman chief for its UAE onshore operations

Shamsa Al-Falasi will also serve as chief administrative officer for lender's entire operations in the Emirates

Shamsa Al-Falasi has worked with Citi for nearly two decades. Photo: Citi

Citigroup has appointed Shamsa Al-Falasi as chief executive of Citibank’s UAE onshore operations, as the Emirates continues to drive the US lender’s regional growth ambitions.

Ms Al-Falasi’s appointment is subject to regulatory approval, the lender said on Tuesday.

Since the beginning of this year, Ms Al-Falasi has been interim chief of Citibank UAE's onshore branch as well as interim Citi country officer, a role she in which will continue until a permanent appointment is made.

She will also now be chief administrative officer for Citi’s entire UAE operations — onshore and offshore.

Calling it “a landmark appointment”, Ebru Pakcan, chief executive of Citi’s Middle East and Africa cluster, said the move would help the “franchise continue on a trajectory of growth and success”.

The UAE is the regional hub for Citi’s Middle East and Africa cluster, covering 59 markets.

A seasoned banker with nearly two decades of experience at Citi, Ms Al-Falasi joined the bank as a graduate in 2004 and worked in cities such as Dublin, London and Sao Paulo before being appointed senior business and relationship manager for the bank’s Middle East and North Africa and Turkey region, based in the UAE.

In 2015, she was appointed head of the bank’s Global Subsidiaries Group (GSG) for the UAE and Iraq, a role that was expanded in 2018 to the entire GCC region and Iraq.

“We have a seasoned team in the country and together we will continue to provide the highest standards of products and services to our clients,” Ms Al-Falasi said.

Citigroup’s business in the UAE will continue to drive its regional growth ambitions over the next five years, its chief executive Jane Fraser told The National last year.

Citigroup expects its business in the UAE and the broader Mena region to grow at a sharper trajectory than in the past five years, boosted by accelerating economic momentum and higher oil prices, she said at the time.