Citi has appointed Steve Yang as head of Greater China credit sales as it continues to build its Asia-Pacific market business, which covers primary underwriting and secondary sales and trading across credit, equity, forex and derivatives.
In this newly created position, Yang will be based in Hong Kong, and according to an internal memo announcing the appointment, he will work closely with Esther Feng, head of Taiwan investor sales, and Yang Ji, head of China investor sales. Yang will report to So-Yon Sohn, head of Credit Sales for Asia-Pacific.
“The appointment reflects the significant credit opportunities Citi sees in the Greater China region with strong client flows across our platform,” said So-Yon Sohn.
With the liberalisation of the renminbi underway, Citi is betting that this will be a growth area. While many banks are focusing on slashing staff as it becomes clear that markets will stay volatile, there are areas where firms are still hiring — particularly in China.
Yang joins Citi from J.P. Morgan where he headed Taiwan credit and investor sales for seven years before co-heading structured credit syndication. Before that, he worked in the institutional clients group at Deutsche Bank. He started his career in fixed income with Bear Stearns in 1999.
