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Citi PB restructures Apac team

Citi PB restructures Apac team

Citi said it has appointed Rudolf Hitsch as North Asia head, Jyrki Rauhio as South Asia head, and Akbar Shah as head of business development for its private bank in Asia.

Effective from February 2018, the newly created roles will report to Steven Lo, who was appointed Asia head in October, following the retirement of Bassam Salem.

According to Lo, the private bank has been one of the fastest growing businesses for Citi in Asia in the last few quarters and one of the best performing private banking businesses for Citi globally this year.

‘This new organizational structure will bring new value and synergy to the business, align us better with clients in the region, increase our focus on key markets and help bring us to the next phase of growth,’ he said.

Hitsch who has more than 18 years of experience in the China market, currently heads the offshore private bank business with clients from China and Taiwan. He will add on coverage for Hong Kong in his new role.

Rauhio has been with Citi for about 23 years and is currently the head of investment finance for the private bank in Asia. In his new role, he will cover Asean, Australia, New Zealand, and India.

In his new role, Shah will be responsible for client acquisition and the establishment of the Asia Pacific advisory board. He has had a substantial career within Citi and in the relationship and wealth management business spanning 30 years.

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