Citi has named Wenjie Zhang as country officer and banking head for China and president and executive director of the Citibank China business, effective July 2025.
Based in Shanghai, he reports to Marc Luet, head of Japan, Asia North, Australia and banking.
Citi reported US$81.1 billion in revenues globally in 2024, US$19.8 billion of which came from the markets division. Within this, Japan, Asia North and Australia (JANA) contributed US$2.5 billion.
As a representative of Citi in the Mainland China region, Zhang is responsible for developing regulatory relationships and ensuring risk control.
Luet commented: “China is one of the largest markets for Citi globally. Wenjie’s depth and breadth of experience and on-ground expertise and knowledge will enhance our growth in this important market as we continue to support our clients’ cross-border banking needs.”
Zhang has 30 years of industry experience and rejoins Citi from Bank of America, where he has been China president and managing director of global corporate and investment banking since late 2020. Earlier in his career, he was co-head of global banking and an executive vice president at HSBC China, and held senior roles at JP Morgan, Citi and Credit Agricole.
Citi has been building out its emerging markets business this year, with Natalia Maksimova joining as an equity sales trader last month.
READ MORE: Credit Suisse veteran joins Citi EM equities
Elsewhere in the APAC region, the company has strengthened its Australia and New Zealand presence with a number of senior hires.
READ MORE: Citi bumps up Australia and New Zealand markets team
