Citi, the US banking giant, has assigned Kevin Lam – its current chief operating officer of Hong Kong Corporate and Investment Banking – to a newly-created, additional role as Asia Pacific business development head between its Citi Private Bank (CPB) and Corporate and Investment Bank (CIB) arms.
In a statement, the bank said Lam’s objective in this additional role would be to “further develop” the partnership between its private banking and corporate and investment banking arms in the Asia Pacific region.
“Citi banks over one third of the region’s billionaires, and a priority is to ensure they are using Citi’s products across our institutional platform, like our corporate and investment bank clients,” explained Mark Slaughter, head of Corporate and Investment Banking Asia Pacific.
Lam’s background and experience, he added, make him “ideally placed to lead this important growth area for Citi’s Corporate and Investment Bank in Asia Pacific”.
Bassam Salem, chief executive of Citi’s Asia Pacific private banking operations, noted that there was “room for further growth opportunities” in the region, which the new strategy would look to develop.
Lam joined the bank in 2001, and has worked for it both in Hong Kong and New York in various roles. He was appointed to his role as COO of HK Corporate and Investment banking in January, 2012, and is also a member of the bank’s Hong Kong Executive Committee.
Citi has some 200 million customer accounts globally, and says it does business in more than 160 countries and jurisdictions.