People Digest: Citibank SG CEO departs; TransferWise loses banking head

Citigroup
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

Citibank’s Singapore CEO Han Kwee Juan has resigned after 27 years with the firm, while Transferwise’s banking head Lukas May, who was responsible for building its APAC headquarters in Singapore, has left the firm.

Citibank loses top executive in Singapore

Citibank Singapore CEO Han Kwee Juan has resigned after a 27-year stint with the company, Business Times reported, citing an internal memo.

The bank’s head of cards and personal loans, Vikas Kumar, will replace Han while it looks for a replacement.

Han joined Citi as a summer intern in 1990 before joining the firm as a management associate in 1991. He took on various roles across Citi’s business units such as institutional banking, global cash and trade, and global relationship banking. In 2010, he crossed into consumer banking after his appointment as head of credit payment products.

Han had been Citibank Singapore CEO since 2012, where he led its consumer banking business.

TransferWise loses banking chief

UK-based remittance company TransferWise has lost its banking head Lukas May.

A TransferWise representative confirmed that May resigned to work with the UK government on UK-Asia trade negotiations. He will hold the position of deputy director of Asia and Australasia negotiations at the UK Department for International Trade.

May spent close to four years with TransferWise, where he led a team that opened currency routes for the company. This involved negotiating deals with financial institutions, applying for regulatory licenses, and advising governments on regulations. In 2017, May relocated to Singapore to build its APAC headquarters and drive its expansion into Asia.

Prior to TransferWise, May spent about three years at UK’s Financial Conduct Authority, where he co-founded the regulator’s innovation hub.

Asia is still a new market for TransferWise, where it has a relatively smaller market share. The firm is reported to move about $1.25 billion (S$1.7 billion) in and out of Singapore every year.

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