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December 22, 2016updated 04 Apr 2017 1:20pm

Citi appoints new Asia Pacific business development head

American banking major Citi has named Kevin Lam as head of its Asia Pacific business development between its private bank and corporate and investment bank.

By Verdict Staff

American banking major Citi has named Kevin Lam as head of its Asia Pacific business development between its private bank and corporate and investment bank.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Lam will be responsible to further develop the strong partnership between Citi’s private bank and corporate and investment bank across Asia Pacific.

He will report to Asia Pacific head of corporate and investment banking Mark Slaughter, and Citi Private Bank Asia Pacific CEO Bassam Salem

Lam joined the bank in 2001, and served in Hong Kong and New York in various positions in corporate and investment banking, treasury and trade solutions and the private bank.

Lam, who was appointed as COO of Hong Kong corporate and investment banking in January 2012, will also continue with his existing role.

Commenting on the appointment, Slaughter said: “Citi banks over one third of the region’s billionaires and a priority is to ensure they are using Citi’s products across our Institutional platform, like our corporate and investment bank clients. Kevin’s background and experience make him ideally placed to lead this important growth area for Citi’s Corporate and Investment Bank in Asia Pacific.”

 Salem said: “Private bank clients are already well connected to Citi’s wider institutional business in the region but we have room for further growth opportunities to support our clients’ needs. This is an important strategic objective to grow share of mind and wallet with our private bank clients and I look forward to Kevin’s leadership in achieving this growth.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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