A longtime Citi veteran has been promoted to lead the U.S. bank’s global wealth management unit in Asia Pacific.
Citi appoints Angel Ng as head of Asia Pacific global wealth management, according to a statement, reporting to APAC chief executive Peter Babej and global wealth management CEO Jim O’Donnell.
Ng will continue to be based in Hong Kong and in her new role, she will be responsible for Citi’s growth strategy in the region centered around the Hong Kong and Singapore wealth management hubs. Ng will also lead Citi’s personal banking franchise in Hong Kong and Singapore, across retail banking, cards and loans.
Single Wealth Head
Following the appointment, Ng will be the sole head of the global wealth unit which covers the full range of client segments from affluent to high net worth.
She succeeds former co-heads Fabio Fontainha and Steven Lo who will stay with the bank in new roles.
Fontainha is now the global head of Citigold and Citigold Private Client while Lo is the APAC head of Citi Private Bank.
Citi Veteran
Ng is a longtime veteran at Citi after first joining its Hong Kong office in 1998. Since then, she has held multiple leadership roles including CEO for Hong Kong and Macau since 2018.
«[Ng] is a proven and capable leader with extensive experience across Citi. Her knowledge and understanding of both wealth and the institutional side of Citi will be instrumental as we continue to build a winning wealth management business,» said O’Donnell.
Last year, Citi announced its wealth management ambitions with plans to add 2,300 staff and $150 billion in client assets by 2025.
