Hong Kong (Reuters) – Citigroup said on Monday that he had appointed Wenjie Zhang as a new national manager and banking manager for China, after the departure of his former official for China in November.
Wenjie Zhang was also appointed President and Executive Director of Citibank China, the company said in a statement. This appointment is subject to the approval of the regulatory authorities.
He will act as the main representative of Citi and as a unique and coordinated face on the mainland China market, said the company, by directing the team and encouraging solid relations and strong risk controls.
He will hold this position after the departure of Luke Lu, former Citi official in China, in November for personal reasons.
Wenjie Zhang will join Citi in July and will be based in Shanghai, under the responsibility of Marc Luet, head of Japan, North Asia, Australia and the Citi banking sector, the bank said.
An experienced banker with 30 years of experience in the business bank and institutional, Wenjie Zhang was recently president of China and director of the Shanghai branch for Bank of America China, according to the Citi press release.
Before that, he was co-responsible for the World Bank and executive vice-president of HSBC China, after working at JPMorgan, Citi and Crédit Agricole CIB.
CITI removes up to 200 contract workers in the field of information technology (IT) in China, said two familiar people in (link) Reuters last month, because the bank seeks to hire its own staff worldwide for operations such as improving risk management and data governance.
Citi, who already has a banking activity in China, is by train (link) to set up a titles unit in the country.
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