Citi announced today two senior appointments in the Institutional Clients Group (ICG), effective immediately.
Charles Lam named Hong Kong Head of Markets
In this role, Charles is responsible for leading Citi’s Markets business in Hong Kong, and the development and implementation of product strategies, covering equities, fixed income, rates and currencies, commodities and spread products. Charles will continue to oversee Citi’s Financial Institutions Sales and Solution businesses in Hong Kong and mainland China.
Since joining Salomon Smith Barney in 1998, which later became part of Citigroup, Charles has held a number of sales and trading roles globally, including Head of G10 Rates Flow Sales for Asia ex-Japan; Head of Investor Sales for Hong Kong; and Head of G10 Rates Sales for China and Hong Kong. Charles also spent over a decade in various senior fixed income and derivatives trading positions with Citi across multiple geographies.
Charles reports to Julia Raiskin, Asia Pacific Head of Markets, and Angel Ng, Hong Kong & Macau CEO and Citi Global Wealth Asia Pacific Head.
Caroline Chan as Hong Kong Head of Securities Services
In her new role, Caroline leads the Hong Kong Securities Services business, which serves financial institutions, investors and issuers by providing the products and solutions needed to administer their investment and issuing activities. These include custody, clearing, asset servicing, fund and ETF administration, and other middle office and execution services. She reports to David Russell, Asia Pacific Head of Securities Services, and Angel Ng.
As of March 31, 2022, Citi Securities Services had approximately US$27 trillion1 assets under custody and administration.
Caroline joined Citi in July 2011 after a legal career with over 20 years of experience in the fund industry in London, Dublin and Hong Kong. She has held a number of senior positions at both Hong Kong and regional level before taking on the role of Asia Pacific Head of Trustee and Fiduciary services in 2015.
Caroline is also the Hong Kong Head of Trustee and Fiduciary Services, reporting to David Morrison, Global Head of Depositary & Fiduciary Services, in this capacity.
Both Charles and Caroline are part of the Citi Hong Kong Executive Committee.
1 By combining our Global and Direct Custody businesses, Citi has unified the AUC/A holding data. Citi’s historical AUC/A figure separately represented gross assets for which Citi provides Global Custody and sub- custodian services via its Direct Custody and Clearing business. This is no longer a distinction in our reporting.