Citibank has appointed Shamsa Al Falasi as chief executive of its UAE onshore branch, making her the first Emirati woman to lead the lender's onshore operations in the country. Al Falasi, who will also serve as chief administrative officer across all Citi entities operating onshore and offshore in the UAE, has spent nearly two decades at the institution and was serving as interim CEO and interim country officer since the beginning of 2023.
Ebru Pakcan, chief executive of Citi's Middle East and Africa Cluster, described the appointment as a landmark move that testified to Al Falasi's talent and leadership. The UAE operates as the regional hub for Citi's Middle East and Africa operations, covering 59 markets, and the lender has positioned the country as critical to its regional growth strategy. Citi UAE offers a full spectrum of institutional banking and wealth management services.
Al Falasi joined Citi as a graduate in 2004 and has worked across multiple geographies during her tenure. She spent time in Dublin, London and Sao Paulo before being appointed senior business and relationship manager for the Middle East, North Africa and Turkey region based in the UAE. In 2015, she assumed leadership of the Global Subsidiaries Group for the UAE and Iraq, a role expanded in 2018 to encompass regional responsibilities across the GCC and Iraq. Notably, in 2013, she won an award for Best UAE National Female Banker. Al Falasi serves as co-head of Citi Women's Network UAE and sits on the board of the American Business Council in Dubai.
The UAE has emerged as a regional centre for women in banking leadership. Rola Abu Manneh became the first Emirati woman to head a bank in the country when she was appointed CEO of Standard Chartered Bank UAE in 2018. Hana Al Rostamani was named Group CEO of First Abu Dhabi Bank in 2021. Al Falasi's appointment follows a broader push by the UAE authorities to increase female representation in corporate leadership; the Securities and Commodities Authority issued a mandate in 2021 requiring listed companies to have at least one woman on their board of directors.
The appointment signals Citi's commitment to developing local talent in the UAE while continuing to position the country as the anchor for its Middle East operations. Al Falasi's elevation through the ranks from graduate trainee to CEO, combined with her deep experience across Citi's global operations and regional corporate banking portfolio, positions her to navigate the franchise through both institutional responsibilities and the lender's stated intention to accelerate growth in the region over the coming years.
