A prominent former Citigroup banker who is leaving the finance industry is poised to take over as CEO of a renowned Hong Kong real estate firm.
Citi Hong Kong Chief Executive Weber Lo will join Hang Lung Group and Hang Lung Properties as CEO designate of both from May 16, according to a statement from the firm.
Lo's departure, reported by finews.asia earlier this month, is the second senior exit from the bank in recent months, following the retirement of well-known private bank head Bassam Salem.
Lo is no stranger to the real economy: he worked for consumer goods conglomerates Procter and Gamble and Coca Cola in China before embarking on a banking career. The U.S. banking giant is expected to name a new CEO for its Hong Kong business in the coming months.
