Citi’s South Asia Head of Private Banking Departs
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Citigroup’s South Asia head of private banking is leaving the firm at the end of March.
Jyrki Rauhio, Citigroup’s South Asia head of private banking, is leaving the bank at the end of March «to pursue other opportunities», according to an internal memo.
Citigroup confirmed the memo’s content and said the bank won’t replace Rauhio. Jyrki Rauhio performed the role of South Asia Head for two years and did a great job putting in place a platform for growth and wants a new challenge, a Citi spokesperson said.
Steven Lo, Asia-Pacific head of Citi Private Bank initially put in the North and South Asia structure when he took on the role of Asia Pacific CEO to help scale the business.
However, Jyrki’s role will not be replaced and all the South Asia Global Market Managers will now report to Steven. «As a result, this gives us the opportunity to relook the structure of the business and Steven Lo has decided to streamline it,» the bank spokesperson said.
Rauhio, based in Singapore, has been with the bank for 25 years in locations including Helsinki, Warsaw, New York, and Hong
Kong.
Questions & Answers
Q.Why is Jyrki Rauhio leaving Citigroup?
Why is Jyrki Rauhio leaving Citigroup?
Jyrki Rauhio is leaving Citigroup to pursue other opportunities, according to an internal memo. A Citi spokesperson also stated he wants a new challenge after two years in his role.
Q.Will Citigroup be replacing Jyrki Rauhio in his role as South Asia head of private banking?
Will Citigroup be replacing Jyrki Rauhio in his role as South Asia head of private banking?
No, Citigroup will not be replacing Jyrki Rauhio. The bank has confirmed that his role will not be filled directly.
Q.What changes will occur in the reporting structure for the South Asia Global Market Managers after Rauhio's departure?
What changes will occur in the reporting structure for the South Asia Global Market Managers after Rauhio's departure?
Following Rauhio's departure, all the South Asia Global Market Managers will now report directly to Steven Lo, who is the Asia-Pacific head of Citi Private Bank.
Q.How long has Jyrki Rauhio been with Citigroup?
How long has Jyrki Rauhio been with Citigroup?
Jyrki Rauhio has been with Citigroup for 25 years. During his tenure, he worked in various locations including Helsinki, Warsaw, New York, and Hong Kong before his current role in Singapore.
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