US bank Citi has created an Asia-Pacific Business Development Group and named Ted Teo to run it to facilitate cross-selling between its global and private banking businesses in the region.
Teo took up the role as managing director in Hong Kong late last week, leading a team of one analyst and a support staff, AsianInvestor can confirm. The bank has similar roles in the US and Emea.
Citi Private Bank operates under the institutional client group umbrella, which includes traditional corporate and investment banking called global banking.
The private bank’s incorporation into this group was designed to leverage on the institutional client...