Citi has announced a new leadership for its markets and securities services business in China, as the bank looks to capitalise on the liberalisation of the market.
Vicky Tsai has been named head of securities services for China, while Ji Yang has been appointed head of markets and securities services (MSS).
Tsai will be responsible for delivering Citi’s strategic initiatives and business plans in China, as well as deepening relationships with clients, infrastructure providers and regulators. Meanwhile Yang will lead Citi’s planning and execution of key priorities for the MSS business in the country.
Citi has recently gained a number of licenses from Chinese financial regulators that have enabled it to do business for foreign investors in the country.
These include a license to act as a futures margin depository bank, a bond underwriting license in the China Interbank Bond Market, a license for type A bond settlement agent, and a license as a Bond Connect trading dealer.
Citi also began providing custody services to local Trust companies in China.
“These licenses have enabled Citi to provide an expanded scope of service to our global clientele, and fueled our growth momentum. I am confident that Ji and Vicky and their teams will continue to enhance standards in client service and to further contribute to the development and prosperity of the financial services market in China,” said Christine Lam, president and CEO, Citi China.
Yang will report to Lam and Stuart Staley, head of markets and securities services for Citi Asia-Pacific, while Tsai will also report to Yang, Harry Peng, head of prime, futures and securities services for Hong Kong and China, and Aashish Mishra, head of direct custody and clearing for Asia-Pacific.