Citigroup Appoints Wenjie Zhang as China Country Head

Published 1 days agoC

Citigroup Appoints Wenjie Zhang as China Country Head

Citigroup has announced the appointment of Wenjie Zhang as its new China country officer and head of banking, effective July 2025. Zhang will be based in Shanghai and will have a direct reporting line to Marc Luet, Citi's Head of Japan, Asia North, and Australia and Banking, according to Reuters.

Zhang steps into the role following the departure of his predecessor, Luke Lu, who left Citigroup in November 2024 for personal reasons. In addition to his new position, Zhang will also hold the titles of president and executive director of Citibank China, subject to regulatory approval. Zhang brings with him 30 years of substantial experience in corporate and institutional banking, having previously served as the president of China and Shanghai branch manager for Bank of America China. His extensive career also includes senior roles at HSBC China, JPMorgan, Citi, and Credit Agricole CIB.

Zhang's responsibilities will encompass leading Citi’s operations in mainland China, bolstering regulatory relationships, and enhancing risk controls. This appointment comes as Citi continues to restructure its global operations, with efforts to internalize staffing to improve risk management and data governance. Additionally, Citi is planning to establish a securities unit in China, expanding its footprint in the region.

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