Citi Appoints Luke Lu as China Country Officer and Banking Head

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Citi has recently announced the appointment of Luke Lu as the Citi country officer (CCO) and head of banking for China, as per a media release dated January 31.

In his new capacity, Luke Lu will assume oversight of all Citi’s business operations in China, ensuring the maintenance of client relationships and regulatory compliance. He succeeds Christine Lam, who is retiring from her role at Citi. Luke Lu will report directly to Angel Ng, the head of Asia North and Australia cluster and banking, while also taking on the role of president and board director of Citibank (China).

With an impressive 25 years of banking experience, Luke Lu brings a wealth of expertise to his new position, having previously served in various leadership roles within Citi across Hong Kong and mainland China. His tenure at Citi, which began in 2002 in Shanghai, has seen him hold key positions in corporate and commercial banking. Most recently, he spearheaded corporate banking coverage for large local corporate clients.

Citi’s operations in China cater to mid-sized companies, offering a range of global banking capabilities and services through its commercial banking division.

Angel Ng expressed confidence in Luke Lu’s ability to drive business growth in China, citing his deep understanding of the market and unwavering commitment to client satisfaction. Acknowledging Christine Lam’s significant contributions over her seven-year tenure as leader of Citi China, Ng commended her distinguished 40-year career at Citi, spanning various sectors and regions.

In September 2023, Citi achieved a significant milestone as the first US bank to secure approval from the Shanghai Futures Exchange (SHFE) and International Energy Exchange (INE) to serve as a Futures Margin Depository Bank (FMDB). This enables its Qualified Foreign Investor (QFI) clients to engage in commodity futures trading on the SHFE and INE platforms.

Looking ahead, Citi is actively pursuing the establishment of a wholly-owned securities and futures company in mainland China, reflecting its continued commitment to expanding its presence and offerings in the region.