Citigroup's business in Asia-Pacific, the bank's fastest-growing region, faces a period of uncertainty following the resignation of its top executive after just 15 months in the post.
Ajay Banga shocked colleagues by announcing on Friday evening in New York he is to join MasterCard as president and chief operating officer. He is in line to become chief executive of the credit card company next year.
Mr Banga is a close confidant of Vikram Pandit, Citi chief executive, and was head of the bank's Asia-Pacific operations – which contributed 30 per cent of group revenues in 2008.
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