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Citi has appointed Helio Lima Magalhaes as country officer for Brazil, responsible for “establishing strong client relationships and driving growth in the country,” the bank said.

Citigroup offers private banking and wealth management in Brazil, as well as having around 400,000 retail accounts and 101 Citibank branches.

Lima Magalhaes rejoins the firm from American Express, where he worked for 13 years, serving as head of global networks services for the Americas, country manager for Mexico, and president of American Express Brazil. He previously worked at Citi between 1988 and 2001.

He now reports to Francisco Aristeguieta, Citi’s chief executive for Latin America.

He replaces Gustavo Marin, who has served as Citi country officer in Brazil since 2005. It is not clear at present what Marin's plans are.

Aristeguieta said Brazil is “critical" to the success of Citi's strategy in Latin America, and "stands out within emerging markets around the world."

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