A 34-year veteran from Citi has returned from his sabbatical to lead the bank’s affluent segments – Citigold and Citigold Private Client – in the region.
C.R. Sambamurthy (Shyam) has been named Asia head of Citigold and Citigold Private Client, according to a statement, effective August 1. Based in Singapore, he reports to global head of Citigold and Citigold Private Client Fabio Fontainha as well as Asia head of Citi global wealth (CGW) Angel Ng.
Sambamurthy is a 34-year Citi veteran returning from his sabbatical following his most recent role as head of international personal banking (IPB) where he helped integrate the bank’s global non-resident Indian business with the Singapore unit.
CGW Expansion
The CGW unit in Asia continues to undergo expansion following an announcement in April to add around 2,300 professionals – including 1,100 relationship managers and private bankers – in Singapore and Hong Kong with the expectation of adding $150 billion in assets under management in the region by 2025.
According to the bank, the CGW unit added over 14,000 new wealth clients and «several hundred» private bankers and relationship managers in 2021 across Singapore and Hong Kong. The region also contributed to over 30 percent of the $7.5 billion generated in global CGW revenues last year.
