Today Citi announced that we are combining our Japan and Asia North & Australia clusters to create the new Japan, Asia North and Australia cluster. This includes our Australia, China, Hong Kong, Japan, Macau, New Zealand, South Korea, and Taiwan markets. Asia North & Australia Cluster and Banking Head Marc Luet, who was appointed in March 2024, will oversee the new integrated cluster. Marc will also continue to serve as Citi Country Officer and Banking Head for Japan until a successor is named.

Citi has completed the major actions announced in September 2023 to align our structure with a new simplified operating model. While our organizational simplification efforts concluded in March, we remain committed to ongoing work to simplify the firm.

“Our combined Japan, Asia North and Australia cluster benefits from strengthened connectivity across some of our highest priority markets. As a result, we’ll be better positioned to help clients leverage the fast-growing investment and trade flows both within this cluster and globally. With a more distributed management and support structure across markets, we are poised to accelerate progress towards our vision of being the preeminent banking partner for companies and individuals with cross-border needs,” said Ernesto Torres Cantú, Head of International.

Marc Luet, Cluster and Banking Head for Japan, Asia North and Australia said, “Japan is an important market for local corporates, multinationals and global investors, and one of our top markets globally. The markets in this cluster will benefit from the stronger synergies with Japan, and vice versa.”