Citi named Lung Nien LEE as Chairman, South Asia of Citi Private Bank (CPB). Meanwhile, global investment firm The Carlyle Group made Kewsong Lee its only CEO.
Citi Private Bank names South Asia Chairman
Citi announced the appointment of Lung Nien Lee as Chairman, South Asia of Citi Private Bank (CPB), effective September 1, 2020.
In this new role, Lee will have the primary responsibility of driving business development and new client acquisition.
He will be based in Singapore, and will report to Steven Lo, Asia Pacific Regional Head of Citi Private Bank and Amol Gupte, ASEAN Head and Citi Country Officer for Singapore.
Lee was earlier the CEO of Citi Malaysia and has over 30 years of experience in the bank working in a variety of senior leadership roles across multiple businesses, functional areas, and geographies.
Prior to Malaysia, he served as the Co-Head of Corporate Sales and Structuring for Markets and Securities Services, Chief Operating Officer for Singapore and AML Business Head of Asia Pacific.
“Our franchise in South Asia is critical to the success of our business in the region and globally, and the appointment of Lung speaks to that. The investments we have made here over the past few years have allowed us to focus more closely on serving the unique markets within the region while providing clients with access to the full breadth of our global platform,” said Lo.
The Carlyle Group appoints CEO
Global investment firm The Carlyle Group has made Kewsong Lee its sole chief executive officer, according to a statement.
The move comes in as Glenn Youngkin has decided to step down as the firm’s co-CEO and retire on September 30, 2020.
Kewsong Lee has been co-CEO alongside Glenn since 2018. Prior to that, he served as Deputy Chief Investment Officer for the firm’s Corporate Private Equity segment and Head of the Global Credit segment.
“I am very thankful to Glenn for his 25 years of service to Carlyle and especially grateful for his friendship and partnership as co-CEO. Over the past few years, Carlyle has reached many key milestones around our most important priorities and our focus will continue to be on delivering for our investors and emphasizing shareholder-friendly actions,” said Lee.
The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across four business segments: corporate private equity, real assets, global credit and investment solutions.
The firm has $217 billion of assets under management as of March 31, 2020.