Citigroup’s head of global banking for the Asia-Pacific region Farhan Faruqui said Tsang will also oversee the Hong Kong banking business, while Zhu will focus on Citigroup’s largest clients in China.
Zhu has a wide expertise in the financial industry and he joined Citi in October. Prior to Citi, he served at China International Capital for almost 10 years, while Tsang joined Citigroup in 2009 from Bank of America, according to Bloomberg.
Faruqui said the bank expects that the recent appointments will assist to its develop local securities joint venture.
"We’re in very good shape now, and we’ll hire as we need further to support clients and our growth. Overall, we’ve come a long long way in China from where we were three years ago," Faruqui added.
Citigroup has expanded the workforce at its corporate and investment bank in China by 35% in the past three years.
