Saturday, 15 June 2024

Citi forms new integrated Japan, Asia North and Australia cluster

5 min read

Citi has combined its Japan, and  Asia North & Australia clusters to create the new Japan, Asia North, Australia cluster. This includes the Australia, China, Hong Kong, Japan, Macau, New Zealand, South Korea, and Taiwan markets.

Marc Luet, head of Asia North and Australia Cluster and banking, appointed in March 2024, will oversee the new integrated cluster. Luet will also continue to serve as Citi country officer and banking head for Japan until a successor is named.

Citi has completed the major actions announced in September 2023 to align its structure with a new simplified operating model. While the organisational simplification efforts concluded in March, Citi remains committed to ongoing work to simplify the firm.

Ernesto Torres Cantú, head of international said: “Our combined Japan, Asia North and Australia cluster benefits from strengthened connectivity across some of our highest priority markets. As a result, we’ll be better positioned to help clients leverage the fast-growing investment and trade flows both within this cluster and globally. With a more distributed management and support structure across markets, we are poised to accelerate progress towards our vision of being the preeminent banking partner for companies and individuals with cross-border needs.”

Luet said: “Japan is an important market for local corporates, multinationals and global investors, and one of our top markets globally. The markets in this cluster will benefit from the stronger synergies with Japan, and vice versa.”

Re-disseminated by The Asian Banker

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