Citigroup Names Asia Banking Heads as Part of Global Restructuring

By Jiahui Huang

Citigroup has named senior leaders for banking in Asia, part of the U.S. bank's ongoing global restructuring.

The New York-based bank has named Jan Metzger, former Asia head of banking, capital markets and advisory, to lead its investment banking franchise in its North Asia & Australia and South Asia clusters, it said Wednesday.

Gunjan Kalra will continue to lead commercial banking in North Asia & Australia and South Asia. Kaleem Rizvi will head corporate banking for North Asia & Australia while K. Balasubramanian do the same for South Asia, Citi said.

The moves come at Citi this week began an extensive round of layoffs and organization changes, part of Chief Executive Jane Fraser's efforts to streamline the bank.

In the memo announcing the changes, Banking Head Peter Babej and International Head Ernesto Ernesto Torres Cantú said the company's pipeline remains strong and that they expect activity to pick up across M&A and capital markets.

"Looking beyond episodic activity, our Corporate Bank is driving integrated client delivery in a challenging macro environment--and with it long-term relationship revenue--while the Commercial Bank is continuing its strong momentum and embedding profitable growth for our broader franchise," they said.

Write to Jiahui Huang [e-mail]

(END) Dow Jones Newswires

11-21-23 2349ET