Citigroup appoints Peter Babej to lead Asia Pacific operations

A Citi logo sits outside the offices of Citigroup Inc. in the Canary Wharf business, financial and shopping district of London, U.K., on Tuesday, April 8, 2014. Photographer: Chris Ratcliffe/Bloomberg

Citigroup Inc has appointed Peter Babej as its chief executive officer for the Asia-Pacific region, according to an announcement.

In this new role, he will be responsible for all Citi businesses in the 17 countries and jurisdictions where the US bank is present.

Babej joined the bank in 2010 and has been the global head of its financial institutions group for the last two years. Under his leadership, Citi attained a leading position in the sector and participated in numerous landmark transactions globally, the bank said.

Before joining Citi, Babej served in senior roles at Deutsche Bank and Lazard, where he advised financial institutions across North America, Europe and Asia.

He holds a BA degree from the Woodrow Wilson School of Princeton University, and a JD and PhD from Harvard University. He is a director of the Lungevity Foundation and a member of the Council on Foreign Relations.

The Asia-Pacific region is “one of Citi’s strongest performing businesses, representing about a fifth of revenues and about a third of net income”, a Citi spokesman told the Financial Times

The US bank this week announced third-quarter revenues of $4.01 billion in Asia Pacific, a 6 per cent growth over the same period last year.

Citigroup is reportedly planning to set up a wholly-owned securities business in China as Beijing seeks to relax foreign ownership norms in the financial services sector. The bank may initially focus on brokerage and futures trading while expanding its custodian services in China, Reuters reported.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.