Citigroup has promoted Jan Metzger to head its corporate and investment banking operations in Asia, effective June 1, replacing Mark Slaughter who is returning the US and is poised to take on a more senior global role at the US bank.
The appointment, announced in a release on Tuesday, will see Citi's co-head of global technology take on a broader regional brief at a time when Asia's booming digital economy looks set to step up capital raising closer to home.
Metzger’s roster of clients includes Alibaba, Samsung, Lenovo, and Hon Hai and his promotion partly reflects the value Citi sees in these relationships just as Hong Kong prepares to allow dual-class shares to compete more aggressively for Chinese TMT and biotech listings.
Smartphone maker Xiaomi and video streaming service Douyu
could be among Hong Kong's first batch, under the new rules, of technology initial public offerings later this year.
Metzger joined Citi in 2015 from Credit Suisse where he was regional TMT head. Prior to joining Credit Suisse in 2005, he was a vice principal at Deutsche Bank.
In his new role, Metzger has big shoes to fill. Under Slaughter, Citi has consistently risen in the global investment banking fees tables for Asia, from eighth in 2013 to fourth in 2017, according to data provider Dealogic.
Slaughter will become vice chairman of corporate and investment banking at Citi, maintaining senior client relationships in Asia but also transition as a senior on important client relationships outside of the region, Citi said.
A postgraduate of Cambridge University and graduate of Sussex University, Metzger began his career as a computer software engineer in 1994, developing voice recognition systems. He began his investment banking career in Europe in 2000, before moving to Asia in 2007.
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