Citigroup Names Zhang Wenjie CEO for China Operations

Citigroup has announced the appointment of Zhang Wenjie as the new CEO for its China operations, marking a significant development for the global banking giant in the region. This appointment comes six months after the previous CEO, Lu Yun, stepped down due to personal reasons. Zhang's extensive experience in the financial sector, particularly his tenure with foreign banks, is expected to bring a wealth of knowledge and strategic insights to Citigroup's operations in China.

Zhang Wenjie will assume the roles of CEO for Citigroup China, President, and Executive Director of Citibank (China) Co., Ltd., upon regulatory approval. He will be based in Shanghai and will report to Marc Luet, the CEO for Japan, North Asia, and Australia. Zhang's responsibilities will include coordinating market resources, leading business development and operations, driving customer business strategies, and ensuring compliance with regulations.

Zhang Wenjie's career in the financial sector spans over three decades, with a strong background in corporate and institutional banking. He holds a Master's degree in Business Administration from the University of York's Shulich School of Business and a Bachelor's degree in Economics from the University of International Business and Economics. Prior to joining Citigroup, Zhang served as the Executive Vice President and Shanghai Branch President of Bank of America China. He has also held senior positions at HSBC China, JPMorgan Chase, Citigroup, and Crédit Agricole Corporate and Investment Bank. His career began in the finance and treasury departments of Sinopec Group.

Marc Luet, the CEO for Japan, North Asia, and Australia, expressed his enthusiasm for Zhang's return to Citigroup. He highlighted Zhang's deep and broad experience in banking, as well as his insights into the local market, which will drive Citigroup's growth in this important market. Citigroup has been serving corporate and institutional clients in China for 123 years, and Zhang's leadership is expected to further enhance the bank's service offerings and expand its client base in the region.