Citi shakes up private bank leadership in Asia

Bassam Salem will become CEO of Citi private bank, replacing Aamir Rahim, who has been appointed head of Citi’s public sector group for Asia-Pacific.
Bassam Salem, Citi
Bassam Salem, Citi

Citi announced yesterday that Bassam Salem will become Asia-Pacific CEO of Citi's private banking division. Salem will replace Aamir Rahim, who has been appointed head of Citi’s public sector group for Asia-Pacific.

The shake-up is being positioned by Citi as a move that plays to each banker’s strength bringing in a seasoned private banker to run the private bank and repositioning Rahim back into a role that will let him use his investment banking skills more effectively. But outsiders and even some Citi sources say it’s yet another example of a private bank trying to make sure its Asia strategy is working, because this might be the only growth game...

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