Citi has promoted its existing Malaysia CEO Lee Lung Nien as the South Asia chairman of its private banking unit.

Nien will take on the new role at Citi Private Bank on 1 September 2020 and operate out of Singapore.

In the new role, he will report to Citi private bank Asia Pacific regional head Steven Lo and Citi country officer for Singapore Amol Gupte.

Referring to Nien, Gupte stated: “His deep knowledge of the region, extensive relationships at Citi, and broad network in Singapore will help us identify and acquire new clients, deepen existing relationships, and further grow our business.”

Lee has been working at Citi for three decades.

He has been at the helm of Citi Malaysia since 2014.

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By GlobalData

Earlier, he was Citi’s co-head of corporate sales and structuring for markets and securities services.

At the firm, he formerly also served as the COO for Singapore and AML business head of Asia Pacific.

Lo noted: “Our franchise in South Asia is critical to the success of our business in the region and globally, and the appointment of Lung speaks to that.

“The investments we have made here over the past few years have allowed us to focus more closely on serving the unique markets within the region while providing clients with access to the full breadth of our global platform.”