With immediate effect, Jang Ho Park will take on the reins as Citigroup's head of investment banking for South Korea and co-CEO of Citigroup global markets Korea securities. Park succeeds Tommy Ho, who leaves the US firm to pursue undisclosed interests.

Before the new posting, Park was Citi's head of Asian debt capital market- Korea. In this role he was responsible for cross border and local debt issuance by corporate clients, financial institutions and government agencies, while also taking responsibility for primary derivatives.

During Park's tenure in this role, Citi's capital markets business was the top debt underwriting house in Korea for G3 bonds in 2004.

His experience with the group also extends to the position of senior officer of the investment banking division for Korea. In the new job, Park will report to Mark Renton, Citigroup's head of investment banking, Asia-Pacific.

"J.H. Park has a successful track record in the market, where under his leadership we have built the leading capital markets business in Korea," says Renton. "We believe his experience and the relationships he has among corporates in Korea will help take what is already a strong investment banking business, to a new level."