Citi has appointed Beibei Li as Head of Banking and Origination for Belt and Road, effective September 1. In this newly created role, Beibei will oversee Citi's banking focus around China's Belt and Road Initiative (BRI). Beibei will be based in Hong Kong and reports to Gerry Keefe, Citi's Head of Corporate Banking Asia Pacific.
"The BRI is a strategic imperative for all of our major Corporate, Public Sector, Financial Institution and GSG clients operating along the Belt and Road—both global and local names. Our global network, local expertise, and product capabilities in 60 of the 70 BRI countries, uniquely positions us as the banking partner for these clients. As such we have created a new leadership position to help align the firm's strategic priorities, connect product and coverage partners, and drive further business opportunities across the BRI economic corridors," said Gerry.
Beibei is relocating from New York where she is currently responsible for the Chinese institutional client portfolio in North America within the Global Subsidiaries Group.
Beibei joined Citi in 1999 as a CIB Management Associate in China and subsequently held roles as a founding member for Consumer Banking in China in Product & Market Management and as Senior Relationship Manager for the Asia Pacific Office in the U.S., before taking her current role in 2012.
In 2018, increased trade, in part along the Belt and Road where Citi does business in 60 of the 70 markets, has underpinned record results for the bank. Citi Asia Pacific saw a record start to 2018 with revenues up 18 percent year-on-year in the first quarter to $4.13 billion and net income up 48 percent year-on-year at $1.12 billion.
Strong growth in intra-Asian trade and Asia to Asia flows are supporting businesses such as Markets, Corporate and Investment Banking, and Transaction services, bringing in business across capital markets, hedging, advisory, cash management and trade finance.
Citi already banks 95 percent of the Fortune 500 in the region and banks many of Asia's corporate champions in multiple countries with the bank's 20 Asian desks around the world supporting the region's corporate champions on the ground. Citi opened additional desks in the last 12 months including a Korea desk in Vietnam and added headcount and expertise to help clients as they look to expand to new areas and markets across these growing intra-Asian corridors.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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James Griffiths, +852-2868-7668, email@example.com