Citi loses Asia structured products head as restructure rolls on
Harold Kim, managing director and head of structured products for Asia-Pacific at Citi in Hong Kong, is considering other opportunities at the bank after his current role fell victim to a reorganisation.
That reorganisationhas seen Citi extract a layer of senior management and split its structured products operations into sales and structuring, according to a Hong Kong-based spokesperson.
Citi’s structurers in Asia now report to Arnold Miyamoto, the London-based head of the multi-asset group, and to regional head Cyrille Troublaiewitch, Hong Kong-based managing director and head of financial engineering, Asia-Pacific Markets at Citi.
The private investor product solutions (sales) group in Asia has a “dotted reporting line” into David Ratliff, regional head of investor sales in Hong Kong, according to sources at the bank.
Sales managers in Japan who previously reported to Kim (pictured) will now report locally, with the structurers reporting globally.
Kim was moved from his role two weeks ago, as part of a long-term strategy that first saw the departure of Richard Burns from the role of head of cross-asset group retail at Citi in London in June 2011. Burns had been head of the structured products group at Citi since its formation in 2008, having been involved with equity derivatives at the bank since joining Salomon Brothers 21 years before.
At the time, Barbara Mullaney was named head of the Americas in New York and Kim was named regional head of retail distribution and the multi-asset group in Hong Kong.
The Hong-based spokesperson at Citi says the loss of Kim’s role “is in line with our global objectives for the multi-asset (structuring) group and private investor product sales.”
Kim joined Citi Global Markets in 2000 from Salomon Smith Barney after the two firms merged. Kim was named head of institutional equity derivative sales at Salomon in 1998, after joining the firm in 1993 as an equity derivatives analyst in New York and moving to Hong Kong as an equity derivatives trader in 1996.
This article was first published on Risk