Citi Names Veteran Executive as New China Head of Commercial Bank

By Tracy Qu

Citigroup has named an executive who's been with the banking giant for over two decades to head up its commercial bank business in China, its latest personnel change as it undergoes a global restructuring.

Lin Hai, who joined the U.S. bank as a treasury management associate in 2002, will become the head of Citi Commercial Bank for China, according to a statement on Thursday.

In his new role, Lin will be responsible for driving CCB China's strategic market share, overseeing operations, and building client and regulatory relationships, the bank said.

"China is a key market for Citi Commercial Bank globally," said Gunjan Kalra, CCB's head for the Asia North, Australia & Asia South clusters.

Lin will report to Kalra and Luke Lu, who was appointed country officer and head of banking for China in January.

Citigroup earlier this year said it plans to cut about 20,000 jobs by the end of 2026, marking the next stage of its restructuring plan as it streamlines operations.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

March 14, 2024 01:26 ET (05:26 GMT)

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