Citi Names Yigen Pei as Head of Transaction Services for China
Shanghai, Hong Kong - September 12, 2012 – Citi China has appointed Yigen Pei as Head of Citi Transaction Services (CTS) for China. Based in Shanghai, Pei will be responsible for continuing CTS’s growth in the local market and will leverage his experience to create innovative new services and solutions for Citi’s customers.
Pei will lead a team who has successfully established Citi Transaction Services as an industry leader in China. He was most recently the Product Head for the Treasury and Trade Solutions (TTS) business in China, a division within CTS, and brings with him more than 20 years of experience in the financial services sector, 16 of which are with Citi. In his new role, he will report to Andrew Au, CEO for Citi China, and Amol Gupte, Region Head for Citi Transaction Services in Asia Pacific.
“Yigen brings tremendous experience, deep knowledge and understanding of the local financial industry and regulatory environment, and we look forward to his leadership as we continue to build out our CTS presence and provide market-leading transaction services in the local market,” said Andrew Au.
Pei will join the CTS Asia Pacific Management Team and Executive Committee, and will work closely with all his colleagues and partners to further extend and deepen the product capabilities and global connectivity of CTS, and to maintain its market leadership position of CTS business in China.
“Given the deep bench strength within our Transaction Services business, we are delighted that Yigen is assuming the leadership role for our CTS business in China. We believe that under his leadership and with a strong local team across 13 cities in China where we have presence, we are committed to reaffirming and growing Citi’s dominant position in transaction banking in the country,” said Amol Gupte.
Pei has been instrumental in launching several new product initiatives which have helped drive the growth of the CTS business in China, as well as win many major industry awards for both cash and trade. The TTS business in China is now one of the largest CTS country franchises globally for Citi. Prior to that, Yigen managed the corporate banking coverage teams in East and Southwest China. He holds a Bachelor's degree in World Economics from Fudan University and received his MBA degree from Shanghai Jiaotong University.
Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the second quarter of 2012, it held on average $396 billion in liability balances and over $12 trillion in assets under custody.
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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