Insight & Analysis

Press release: Citi private bank expands offering with China Global Market Manager hire

Published: Aug 2021

3rd August 2021 – Citi Private Bank has recruited a Global Market Manager (GMM) for China, to grow its offering for Mainland Chinese entrepreneurs attracted to an advanced regulatory and familiar cultural environment in Singapore.

Newspaper press release

Former Credit Suisse Managing Director Lillian Liao will be joining Citi in this new Singapore-based role later this month. She was most recently a senior client partner serving clients from China at Credit Suisse. Liao will be reporting to Rudolf Hitsch, Citi Private Bank North Asia Head and Lee Lung-Nien, Citi Private Bank Chairman & South Asia Head.

The new responsibility will see Liao managing a team of private bankers to serve Chinese entrepreneurs in Singapore. She has had vast experience in the wealth management industry throughout her 20-year career, having previously worked for HSBC, UBS and Deutsche.

Commenting on the appointment, Hitsch said, “As we continue to expand our offering for entrepreneurs from China in Singapore, this required a strengthening of our local leadership. Since starting our Offshore Mainland China team in 2010, our philosophy has been to focus on understanding clients’ needs and strive to become the bank most capable of assisting them meeting their goals outside of China. Thus, mutual trust develops and symbiotic relationships which are meaningful to both parties and are focused on the long term form.”

Lee added: “Our China team’s success shows that our patient approach is appreciated by many large entrepreneurs and their families there. We have what it takes to be a China entrepreneur’s main bank outside of China, and Lillian’s joining us sends a strong signal of this intent to better serve our clients and grow this business.”

China’s unprecedented economic growth in recent decades has nurtured many outstanding entrepreneurs who are successfully exporting their products, services and ideas globally. In doing so, these entrepreneurs will need banking partners who can provide them with tailor-made offerings to facilitate their investing, financing, strategic advisory, estate planning and banking needs.

Citi expects this momentum to continue as the pace of newly minted entrepreneurs keeps growing. Being the most globally connected bank, Citi offers a unique position to support the international growth of these entrepreneurs’ companies and personal investments.

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