Who's Moving Where In Wealth Management? – Citi Hong Kong

Amanda Cheesley

5 February 2023

Citi Hong Kong
has appointed Charles Lam as Hong Kong head of markets and Caroline Chan as Hong Kong head of securities services in the Institutional Clients group.

Starting immediately, Lam will be responsible for leading Citi’s markets business in Hong Kong, and the development and implementation of product strategies, covering equities, fixed income, rates and currencies, commodities and spread products, the firm said. He will continue to oversee Citi’s Financial Institutions Sales and Solution businesses in Hong Kong and mainland China.

Since joining Salomon Smith Barney in 1998, which later became part of Citigroup, Lam has served in a number of sales and trading roles globally. He has spent over a decade in various senior fixed income and derivatives trading positions with Citi across multiple geographies, the firm added. Lam will report to Julia Raiskin, Asia-Pacific head of markets, and Angel Ng, Hong Kong and Macau CEO and Citi Global Wealth Asia-Pacific head.

Starting immediately, Chan will lead the Hong Kong Securities Services business, which serves financial institutions, investors and issuers by providing the products and solutions needed to administer their investment and issuing activities, the firm said. These include custody, clearing, asset servicing, fund and ETF administration, and other middle office and execution services. She will report to David Russell, Asia-Pacific head of securities services, and Angel Ng.

As of 31 March 2022, Citi Securities Services had about $27 trillion assets under custody and administration. Citi, a global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.