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Citibank China CEO Luan Xuan to leave the company after less than a year

AInvestFriday, Nov 1, 2024 6:50 am ET
1min read

According to media reports, Luke Lu, who took up the role of Citibank China's president and chief executive officer in late January, is set to leave the bank, a Citibank spokesperson said, adding that Lu left for personal reasons and the group has started looking for his successor. During his time as Citibank China's president, Lu led the bank's business development and operations management, promoted customer business strategies and supervised compliance.

Lu joined Citibank in Shanghai in 2002 and held key positions in the corporate banking and commercial banking departments, and also served as the head of Citibank's Tianjin branch and Shanghai branch, with more than 20 years of banking experience in Hong Kong and the mainland.

It was also reported that Citibank China's head of country management, Yang Changhao, will serve as Citibank China's acting president, and Citibank's Hong Kong and Macau chief executive and head of banking business, Sinopack Sin, will serve as Citibank China's president and head of banking.

The spokesperson added that the mainland remains an important part of Citibank's global network and growth plans and will continue to invest in its business in China. Citibank China currently handles all Shanghai-London Stock Exchange global depositary receipts projects in the market and leads the Swiss-Chinese global depositary receipts project with a market share of 93%, according to the information.

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