Citigroup appoints new Asia Pacific wealth boss
2022.04.12 07:16
FILE PHOTO: A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike Segar
HONG KONG (Reuters) – Citigroup Inc (NYSE:C) said on Tuesday it appointed Angel Ng to lead its Asia Pacific global wealth management business.
Ng, currently Citigroup’s Hong Kong chief executive, will oversee Citi’s wealth management business — centred around hubs in Singapore and Hong Kong — and lead the personal banking units in both cities.
She replaces Fabio Fontainha and Steven Lo, the previous co-heads of the Asia Pacific wealth business who have both shifted to new jobs within Citi.
Wealth management in Asia Pacific recorded $2.5 billion in revenue in 2021 and Citi aims to grow client assets in that business by $150 billion by 2025, the statement said.
Citi also said it plans to add 2,300 staff by 2025.
