Citi's South Asia Head of Private Banking Departs

Citigroup's South Asia head of private banking is leaving the firm at the end of March.

Jyrki Rauhio, Citigroup’s South Asia head of private banking, is leaving the bank at the end of March «to pursue other opportunities», according to an internal memo. 

Citigroup confirmed the memo’s content and said the bank won’t replace Rauhio. «Jyrki Rauhio performed the role of South Asia Head for two years and did a great job putting in place a platform for growth and wants a new challenge,» a Citi spokesperson told finews.asia.

No Replacement

Steven Lo, Asia-Pacific head of Citi Private Bank initially put in the North and South Asia structure when he took on the role of Asia Pacific CEO to help scale the business. 

However, Jyrki’s role will not be replaced and all the South Asia Global Market Managers will now report to Steven. «As a result, this gives us the opportunity to relook the structure of the business and Steven Lo has decided to streamline it,» the bank spokesperson said. 

Rauhio, based in Singapore, has been with the bank for 25 years in locations including Helsinki, Warsaw, New York, and Hong
Kong.