Citi appoints Lee Lung Nien as South Asia private banking chairman

CITI on Friday announced the appointment of banking veteran Lee Lung Nien as the South Asia chairman of its private banking arm.

Mr Lee, a Singaporean, will assume his new role at Citi Private Bank (CPB) from Sept 1 and will be based in Singapore. He is currently the chief executive officer of Citi Malaysia - since 2014 - and has over 30 years of experience at the bank working in a variety of senior leadership roles across multiple businesses, functional areas and geographies, said Citi in a statement. 

Prior to Malaysia, Mr Lee served as the co-head of corporate sales and structuring for markets and securities services, chief operating officer for Singapore, and AML (anti-money laundering) business head of Asia-Pacific.

In his new role, he will report to Steven Lo, Asia-Pacific regional head of CPB, and Amol Gupte, Asean head and Citi country officer for Singapore. 

Mr Lee will have primary responsibility to drive business development and new client acquisition for CPB. 

"Lung's deep knowledge of the region, extensive relationships at Citi, and broad network in Singapore will help us identify and acquire new clients, deepen existing relationships, and further grow our business," said Mr Gupte. 

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Mr Lo added: "Our franchise in South Asia is critical to the success of our business in the region and globally, and the appointment of Lung speaks to that. The investments we have made here over the past few years have allowed us to focus more closely on serving the unique markets within the region while providing clients with access to the full breadth of our global platform."