After a week of senior managerial changes in its Asian fixed income business, Citigroup has announced a new reporting structure for local debt capital markets. Aamir Rahim will oversee the entire business from his new position as sole head of Asia-Pacific FICM (Fixed Income Capital Markets) and will report to Sim Lim, head of EM sales and trading.
The region's head of local DCM will be Cynthia Teong, who is based in Singapore. She will report to Rahim and manage all the local and hub-based local market DCM team members. She takes on the role after establishing Citi's DCM platform in Singapore - a model which has been replicated across Asia.
As a result of her elevation, John Pitfield will make an internal transfer from origination to syndicate. As such he will join syndicate team members Paul Au and John Le Fevre, becoming syndicate head for the local debt business.
In Singapore, Teong's old role will be taken on by Lung-Nien Lee, who will also represent EMST in the Singapore country coordinating/management committees. In addition to moving into the market manager for Singapore role, Lee will retain his CSS head for the ASEAN region role.