Citigroup's global corporate and investment banking group (GCIB) has broadened its Asia-Pacific capabilities by announcing four key reshufflings across the region, effective immediately.
The bank's current country officer for Hong Kong, Catherine Weir will cross the border as Citigroup's new head of corporate and investment in Greater China. Weir moves to Shanghai and will directly manage Citi's China GCIB business. At present, her replacement has not been announced and she will continue to report to Robert Morse, CEO of Citigroup's global corporate and investment banking group in Asia-Pacific.
Reporting directly to Weir will be TC Chan, who takes on the position of chief operating officer for Citigroup's GCIB operations in Greater China. Chan will juggle his new role with his present role as head of the GCIB and country officer in Taiwan. As a perk of his new position, Chan will chair the Greater China operating committee.
Bringing mainland experience to Singapore will be Richard Stanley. He will relocate to the Lion City as head of the GCIB of the ASEAN markets (Singapore, Malaysia, the Philippines, Indonesia, Thailand, Vietnam and Brunei.) Stanley will leave his position as Citi's country officer for China to assume his new role. He will also continue reporting to Robert Morse.
Sanjiv Misra adopts a newly created position for the bank, head of corporate banking, Asia-Pacific. Misra, currently Citi's country officer for Singapore, will supervise its corporate clients relationship in the region. Misra will report to both Robert Morse and to Suneel Bahkshi, global head of the bank's emerging markets corporate bank.
Citigroup describes the new appointments as reflecting the changing market dynamics and better meet the requirements of its Asia-Pacific client base.
"The size of the GCIB business in Asia-Pacific has doubled over the past five years and these organisational changes allow us to continue to ensure that our clients receive the best attention," Morse comments. "The creation of GCIB management positions across Greater China and ASEAN will bring a sharper focus to the spectrum of opportunities in these markets, brought about by closer integration."