Citi has appointed a new head for the company's business in connection with the Belt and Road Initiative. The banker will help with aligning the firm's strategic priorities.
Citi appointed veteran banker Beibei Li to oversee the bank's focus on China’s so-called Belt and Road Initiative (BRI). The new role enables the bank to better serve clients in 60 BRI countries which it already operates in.
«We have created a new leadership position to help align the firm’s strategic priorities, connect product and coverage partners, and drive further business opportunities across the BRI economic corridors,» said Gerry Keefe, Citi’s head of corporate banking Asia Pacific.
New York to Hong Kong
Li will start in his new job on September 1 in Hong Kong, where she will report to Keefe. The bank has almost two decades of industry experience. She will relocate from New York, where she is currently responsible for the Chinese institutional client portfolio in North America.
In 2018, increased trade in some of countries covered by the BRI underpinned record results for the bank. Citi's first-quarter revenues in Asia Pacific rose 18 precent from a year ago, reaching $4.13 billion while net income was up 48 percent to $1.12 billion in the same period.
