Citi Private Bank has appointed Keith Lee as its new market manager of high net worth (HNW) business in Hong Kong.

In his new position, Lee will focus on the growth of the bank’s HNW segment. He will be particularly responsible for clients with a net worth of $10m and more in Hong Kong and Greater China.

Lee, who joined Citi from UBS, reports to the bank’s HNW head of APAC San-San Chan.  

He has over 25 years of experience in the financial sector, especially the wealth management industry, which includes a 16-year stint at UBS.

Earlier, Lee served at Bank of China, Citibank, ABN AMRO Private Bank, and Standard Bank Private Bank.

Chan said: “The HNW segment has been identified as a high-growth segment, particularly in Asia, given the prospects for wealth forecasted over the next few years.

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“Lee will focus on this dynamic growth area by expanding the staffing of the Hong Kong HNW banker team and overseeing the end-to-end expansion and ongoing management of this critical market segment.”

With the latest appointment, Citi Global Wealth Asia aims to achieve its target of adding more than $150bn in assets under management (AUM) in the region by 2025.

In July 2020, Citi Private Bank promoted its Malaysia CEO Lee Lung Nien as the chairman of its South Asia business.