Based in Hong Kong, Lo will be responsible for serving CitiÆs clients across the region. She takes over from Carole Berndt, who was recently appointed CitiÆs global head of client delivery for treasury and trade solutions, based in New York.
In her new role Lo will report to Anthony Nappi, managing director and head of global transaction services for Citi in Asia.
"What you're seeing in Asia, especially over the last three years, has been a renaissance of banking requirements and needs,ö says Nappi.
ôAs customers go from small to large, their needs increase. Our clients' banking needs and level of sophistication has grown exponentially. We are seeing growth across our global transaction services business in Asia and we continue to expand to support our clients' needs."
Global transaction services is one of the region's fastest growing product lines for Citi with second quarter Asia revenues up 25% year-on-year and net income up 34% year-on-year. In other words, Asia accounted for 40% of Citi's second quarter global net income for the division, the bank said.
Earlier this year Citi created a new global transaction services role and appointed managing director Akash Rathke as its regional head of bank services and public sector.
Prior to her new position, Lo was regional head of client on-boarding for global transaction services in Hong Kong. She was also previously head of e-banking and channel marketing for CitiÆs consumer bank in Hong Kong.
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