Citi Private Bank has hired a global market manager for China to attract Mainland Chinese entrepreneurs based in Singapore.
Former Credit Suisse managing director Lillian Liao is joining Citi Private Bank in a new Singapore-based role as global marketing manager for China in a bid to capture more of the fast-growing business-owner client segment.
In the new post, Liao will be responsible for managing a team of private bankers serving Mainland Chinese entrepreneurs based in the financial hub. The goal is to expand tailor-made offerings that fit the investing, financing, strategic advisory, estate planning and banking needs of owners and their families and take a patient approach, the global bank said.
Liao (pictured) starts later in the month and will report to Rudolf Hitsch, Citi Private Bank North Asia head and Lee Lung-Nien, chairman and South Asia head.
During 20 years in wealth management, she has previously worked for HSBC, UBS and Deutsche, and was most recently a senior client partner serving clients from China at Credit Suisse. The bank says she will “strengthen local leadership” as Citi continues to expand its offering for Chinese business owners.
“Since starting our offshore Mainland China team in 2010, our philosophy has been to focus on understanding clients’ needs and strive to become the bank most capable of assisting them meeting their goals outside of China. Thus, mutual trust develops and symbiotic relationships, which are meaningful to both parties and are focused on the long term,” Hitsch said.
Lee, who has been at Citi for 30 years, added that banking success has come from taking a patient approach appreciated by large entrepreneurs and their families. “Lillian’s joining us sends a strong signal of this intent to better serve our clients and grow this business,” he added.