The latest moves, appointments and personnel changes in the Asia-Pacific wealth management sector.

EY
EY, aka Ernst & Young, has appointed Joongshik Wang as EY-Parthenon Asia-Pacific leader to oversee development and growth of EY-Parthenon, the strategy and consulting arm within the EY organisation.

Based in Singapore, Wang will retain his role as EY-Parthenon Asean and Singapore leader, and will become a member of the Asia-Pacific strategy and transactions executive team, and the EY-Parthenon global leadership team. 

Prior to this, Wang was a partner at Kearney Singapore focusing on corporate and business strategy for multi national corporations (MNCs) and large conglomerates, and commercial due diligence for private equity firms. With more than two decades' experience, he has worked across APAC, supporting clients in Asean, Korean and Greater China markets.

Citigroup
Citi has appointed Jaewon Hwang (pictured) as head of Citi Commercial Bank (CCB) for Korea. 

In this role, he will be responsible for driving the growth of the CCB business in Korea, and will oversee business operations and financial performance, including fostering client and regulatory relationships, the firm said in a statement.

Hwang will report to MS Yoo, chief country officer, Citi Korea and Gunjan Kalra, head of Citi Commercial Bank for Japan, Asia North, Australia and Asia South clusters.

Hwang brings over 23 years of corporate banking experience to this role. As a parent account manager for a major corporation in Korea and as head of the Top-Tier Local Corporates (TTLC) Division, he will drive the overall growth of Citi’s Corporate Banking business through effective credit exposure and capital management, as well as the diversification of products and services. Hwang joined Citi Korea in 2001 as a management associate and has since served in various roles, including business development officer at Middle Markets Group in Los Angeles and head of the Korea desk for North America and Latin America in New York, the firm added. 

“We are seeing an increasing trend of Korean companies going global and expanding their business in other regions. Through Citi’s global network and strong knowledge of local markets, we are well placed to support fast-growing Korean mid-sized corporates with their global and regional aspirations,” Kalra said.

Given Citigroup's integrated business model, the corporate banking side of the lender typically works closely with the private banking arm, bearing in mind how many high net worth and ultra-HNW clients own operating companies.