Zilingo CFO James Perry steps down, goes back to Citigroup

Perry will return to financial services giant Citigroup as its Asia-Pacific managing director and co-head of technology investment banking, the sources added.

He joined Zilingo as its first finance chief in July 2019. In the role, he was in charge of driving business growth and helping the company scale in markets including the Philippines, Indonesia, Australia, and the US.

As the business-to-business fashion ecommerce firm was nearing a US$1 billion in valuation, Zilingo’s took a major hit from the Covid-19 pandemic.

In July this year, it was reported that the startup cut 12% of the company’s total workforce, following a first round of layoffs that had affected 5% of its total staff. At the same time, Perry returned his shares to Zilingo for a token sum, public filings showed.

See also: Zilingo’s layoffs expose internal fault lines