The U.S. banking giant's top man in Hong Kong is leaving the bank as well as the finance industry altogether.
Citi Hong Kong Chief Executive Weber Lo will step down from his position on May 1 to join a company in the greater China region, according to a report by the «South China Morning Post».
«While moving into a new industry may be daunting for many, Weber was eager to move out of his comfort zone,» Francisco Aristeguieta, chief executive of Citi Group Asia said in the memo. Aristeguieta added the bank will later name a successor for Lo, who has worked for Procter & Gamble and Coca-Cola before.
It is the second senior departure from the bank in recent months following the retirement of private bank head Bassam Salem last year. Salem was replaced by Steven Lo last month.
