Citi names new leadership team for Asia-Pacific corporate bank

06-May-2020 Intellasia | South China Morning Post | 6:02 AM Print This Post

Citigroup named the new leadership team for its corporate banking business in the Asia-Pacific region on Monday, following the promotion of the former regional head of the unit in February.

Kaleem Rizvi, who currently heads the corporate and investment bank in parts of South America, Central America and the Caribbean, will serve as Asia-Pacific head of corporate banking and relocate to Hong Kong from Bogota.

He replaces Gerry Keefe, who snagged the top global role in treasury and trade solutions corporate and public sector sales in February. Keefe had led the American bank’s corporate banking business in Asia since 2016.

At the same time, Christie Chang will take the new role of Asia-Pacific corporate banking chairwoman, in addition to her existing position as head of Taiwan banking, capital markets and advisory and president of Citibank Taiwan.

“We look forward to this new leadership building further on the strong relationships we have across the region with corporates, financials and public sector clients,” January Metzger, Asia-Pacific head of banking, capital markets and advisory, said in a statement.

The corporate bank provides services to large companies, financial institutions and government institutions, including cash management, trade finance and structured products. Citi reconfigured the corporate banking unit around important trade corridors in Asia four years ago to better capture business, such as China to southeast Asia.

Citi’s institutional clients’ group, which includes the corporate bank, as well as its investment banking and capital markets business, reported a 15 per cent increase in revenue in Asia to $2.6 billion in the first quarter.

The leadership changes come at a difficult time for banks as the coronavirus pandemic has weighed on economic activity globally and forced lockdowns from Asia to Europe, cutting into first-quarter revenues.

Lenders also are facing historically low interest rates, which are likely to remain at those levels for some time as policymakers seek to stimulate economies from New York to Singapore.

Rizvi, who joined Citigroup in Pakistan in 1996, previously served as global banking head in Nigeria and managed corporate and investment banking for Citi in Thailand, with oversight over other parts of southeast Asia. He moved to Colombia in 2015 where he heads the corporate and investment bank for parts of the Andean, Central American and Caribbean regions.

In her new role, Chang, who joined the bank in 1989, will provide senior regional leadership and target senior coverage for selected clients in the region, Citi said.


Category: FinanceAsia

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