Citi Private Banks Global Investment Head To Be Based In Singapore

(1888PressRelease) August 21, 2009 - Singapore – Singapore’s appeal as a global wealth management and private banking hub has attracted Citi Private Bank to base a number of its senior executives in the global leadership team in the island-nation, including the bank’s newly appointed Global Head of Investments, Mr Shantanu Rastogi.



Following its Chairman’s footsteps (Deepak Sharma was appointed Chairman in April 2009, based in Singapore), Mr Rastogi will also be based in Singapore with responsibility for managing the private bank’s vast investment platform covering North America, Latin America, EMEA and the Asia-Pacific regions.



He will be looking into expanding capabilities, encouraging more product innovation, and creating synergies and efficiencies across the Investments infrastructure of the four regions, benefiting the private bank’s key investment centres in Singapore, Hong Kong, Geneva, London, New York and Mexico City.



Two other senior executives based in Singapore with similarly global responsibilities are Mr. Mark Morgan, Global Head of Human Resources and Mr. Money K., Global Head of Marketing.



Ms Jane Fraser, Chief Executive Officer of Citi Private Bank, said: “Strengthening our investments platform is a critical priority for the Private Bank. Fundamental to this is our ability to deliver the power of Citi and everything our broad global platforms can offer, while maintaining our absolute commitment to open architecture. This will allow us to serve our clients with the best product and the best execution at all times“.



“The fact that the leadership team of Citi Private Bank is spread across major financial hubs reflects the globality of the franchise, the diversity of our talent, and the foresight of Citi to place resources in growth areas of strategic importance. Asia is expected to become the world’s largest repository of high net-worth wealth by 2013 (Merrill Lynch Cap Gemini Report 2009). Also, demand for capital market products among wealthy clients is also particularly stronger in the Asia region,” said Ms Fraser.

Mr Deepak Sharma, Singapore-based Chairman of Citi Private Bank, said: “Having Shantanu manage Citi Private Bank’s global investments business out of Singapore is not only a sign of the country's extraordinary appeal as a global hub for the wealth management business. This appointment also attests to Citi’s deep and sustained commitment to Singapore, where it is the largest banking employer with over 8,000 staff across the whole franchise.”



Mr Rastogi was most recently Head of Investments for Citi Global Wealth Management, International. A Citi employee of more than 23 years, his career has spanned various roles in the area of Treasury and Capital Markets in India, Saudi Arabia, Singapore and Korea.



He joined Citi (www.citigroup.com/citi/global/asiapacific.htm) in India as Treasury Marketing Unit Head in 1986 from the Reserve Bank of India, where he had traded foreign currency fixed income securities.



Mr Rastogi holds a Masters of Business Administration from the Faculty of Management Studies, University of Delhi.

for more details log on to http://www.citibank.com.sg/

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