• Published on 15 March 2024
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Citi appoints new head of Asia North & Australia Cluster and Banking

Citi announced that Angel Ng has decided to retire after 26 years with the bank, effective April 5. Ng was most recently the head of Asia North and Australia Cluster and Banking, with oversight over Citi’s franchise in Australia, China, Hong Kong, Korea, New Zealand and Taiwan.

Ng joined Citi Hong Kong in 1998 and served as head of retail banking, wealth management and cards before being appointed consumer business manager for Hong Kong in 2015, where she led the digital transformation of the business. She was appointed as CEO for Hong Kong and Macau in 2018 and the head of Asia for Citi’s wealth business in 2022.

Marc Luet, currently the head of Japan Cluster and Banking, will be appointed as head of Asia North and Australia Cluster and Banking from 1 April. In his new role, Luet will be based in Hong Kong and has responsibility for geographic management and legal entity management across the cluster, as well as oversight of products and banking segments and local client engagement and delivery across all lines of business.

During his distinguished tenure with the firm, Luet has held a variety of senior positions as Citi country officer and CEO across businesses and geographies, including Australia and New Zealand, Russia, Ukraine, Kazakhstan, Poland, Turkey, and Israel, as well as the consumer banking business in EMEA. Luet will continue to hold his responsibility for Japan until a successor is named.

Ernesto Torres Cantú, Citi's head of international said: “As a leading financial institution, Citi brings the unique strength of its unparalleled global network and on-the-ground expertise to its banking, markets, services, and wealth businesses. The Asia North and Australia Cluster is a key growth area for Citi internationally, having been in the region since 1902. Marc will be focused on creating greater connectivity across the bank to deliver the full power of Citi to our clients. I wish Angel happiness in this new chapter of life and look forward to Marc’s leadership to bring the cluster to new heights.”

Re-disseminated by The Asian Banker