Citi combines in Japan, North Asia, and Australia clusters

This covers markets in East Asia, Australia, New Zealand, Hong Kong and Macau.

Citi has combined its Japan, and Asia North & Australia clusters, with Marc Luet taking over as head of the new integrated cluster.

The new Japan, Asia North, and Australia cluster will cover the Australia, China, Hong Kong, Japan, Macau, New Zealand, South Korea, and Taiwan markets.

Luet will continue to serve as Citi Country Officer and banking head for Japan until a successor is announced.

The combined cluster will benefit from the strengthened connectivity across some of Citi’s highest priority markets in the region, said Ernesto Torres Cantú, head of international, Citi.

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“As a result, we’ll be better positioned to help clients leverage the fast-growing investment and trade flows both within this cluster and globally. With a more distributed management and support structure across markets, we are poised to accelerate progress towards our vision of being the preeminent banking partner for companies and individuals with cross-border needs,” Cantú said in a press release, commenting on the combined cluster.

Luet, for his part, expressed his optimism that the new cluster will benefit from stronger synergies with Japan and vice versa.