People Digest: Citibank hires Singapore CEO; FundRock names Asia markets MD

FILE PHOTO - FILE PHOTO -- People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. REUTERS/Robert Galbraith/File Photo

Citibank has appointed Brendan Carney as chief executive officer of Citibank Singapore while FundRock has named Timothy Walkley as managing director, Asian markets.

Citibank names new Singapore CEO

Citi has appointed Brendan Carney as chief executive officer of Citibank Singapore and ASEAN cluster head of its Global Consumer Banking (GCB) division, according to the bank’s statement.

In his new role, Carney will manage the Citi Singapore’s consumer business and lead the consumer franchise in its ASEAN cluster.

He will report to Gonzalo Luchetti, head of consumer banking for Asia-Pacific and Europe, the Middle East and Africa, as well as Amol Gupte, Asean head and Citi country officer for Singapore.

His appointment comes after the bank’s former Singapore chief Han Kwee Juan resigned in February to join DBS Group Holdings’ group as head of strategy and planning.

Carney was most recently the consumer business manager for South Korea, a role he has held since July 2015.

FundRock names MD for its Singapore office

Luxembourg-based FundRock has appointed Timothy Walkley to lead the new branch in the role of managing director, Asian markets, according to a statement.

The company, backed by private equity firm BlackFin Capital Partners, has opened an office in Singapore, as it expands into Asia.

Luxembourg funds are eyeing cities like Singapore and Hong Kong as gateways to tap into the wealth of a growing Asian middle class.

FundRock’s new set-up in Singapore comes after it struck a cooperation agreement in September with Perpetual Corporate Trust in Australia.

It also follows FundRock’s acquisition of SEB’s fund services arm in the Grand Duchy at the end of 2018.

The company, called RBS Luxembourg before its private equity buyout in 2015, provides services such as risk management, oversight and compliance to funds in Luxembourg, the UK, and Ireland.

It has over €80 billion in assets under management and employs more than 120 people.