Following the news that Bassam Salem is retiring next year Citi moved quickly to appoint his successor.
In an internal memo seen by finews.asia the U.S. bank Citi has appointed Steven Lo as the regional head of the Private Bank for Asia. He will be based in Hong Kong, and will report jointly to Peter Charrington and Francisco Aristeguieta.
Lo will also sit on both the Global Private Bank Leadership Team, as well as the Asia Operating Committee. He will assume his new responsibilities with effect of February 1, 2018.
Ensuring a Seamless Transition
Lo joined Citi and the Private Bank 26 years ago as an Ultra High Net Worth Banker in Vancouver, focusing on clients in North America and Asia. He later moved to New York as a banker, and then to Asia in 2001 and became the global market manager (GMM) of Thailand,
He became the GMM of Hong Kong in 2010, and has been a member of the Hong Kong Country Executive Committee, and is also a founding member and director of the Private Wealth Management Association in Hong Kong. Lo will work closely with Bassam Salem over the next few months to ensure a seamless transition, the memo says.
