Citi Private Bank reshapes Asia teams again
Citi Private Bank has introduced several organisational changes to its senior wealth leadership team across geographies, aiming to focus on growth areas in 2025.
The decision was taken with an aim to ”create consistency across global teams and align with industry standards”, according to an internal memo, outlining the private bank’s streamlined structure in Japan, Asia North & Australia (JANA), and Asia South. The group market managers have been rebranded as market executives.
All the new market executives will report to Citi Private Bank’s head of JANA and Asia South, Steven Lo.
The memo also announced the resignation of Tim Morse, head of the Australia/New Zealand business, who is leaving the firm to join his family in Australia.
Jennifer Tay, market executive for Singapore and Malaysia, will take on additional responsibility for the Philippines and Australia/New Zealand. Angie So will continue to oversee the Philippine business, reporting to Tay.
Jocelyn Guo will integrate China South & West coverage into the China team, while Su Ching Chia will lead Indonesia and Thailand.
To foster closer collaboration between investment counsellors and bankers, Horace Yip, market executive for Hong Kong, together with Tay, will jointly oversee the investment advisory teams, in addition to managing their respective markets.
In JANA, investment counsellor team leads Kevin Cui and Edmond Hoang will report to Yip. In Asia South, Michel Theodas and Toby Gresham will report to Pei-Jet Chia under Tay’s leadership.
Sally Yeh, who oversees Taiwan offshore, Lillian Liao and Nisha Sapra, will continue in their current roles.
Lung-Nien Lee will remain chairman of Asia South, further strengthening client relationships alongside market leaders in the region.
In late January 2025, Citi overhauled its private banking leadership following the departure of global head Ida Liu. This resulted in Citi’s head of wealth, Andy Sieg, directly overseeing the private banking arm’s operations in the UK, Europe and the Middle East, North America, Latin America and Asia South. Lo currently reports to Sieg.