Citi
Citi has reorganized its entire Asia-Pacific business as part of chief executive Vikram Pandit’s drive to give greater decision-making power to regional heads. Ajay Banga, who replaced Bob Morse as head of the Asia-Pacific institutional clients group in August, will continue as chief executive of Citi Asia Pacific. The US bank now divides the region into four areas: Japan, north Asia, south Asia and southeast Asia-Pacific, with seven product and coverage groups supporting them. There were no dramatic surprises in the choice of regional chief executives:
Stephen Bird will run north Asia (China, Hong Kong, Korea, Taiwan) and consumer banking.
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