On January 31st, Citigroup announced the appointment of Lu Xuan as the President of Citigroup China. He will lead Citigroup China's business development and operational management, promote customer business strategic relationships, and supervise compliance. Lu Xuan also serves as the President and Director of Citibank (China) Limited.
The reporter learned that Lu Xuan is a veteran of Citigroup, with 25 years of banking experience in mainland China and Hong Kong. He joined Citigroup in Shanghai in 2002 and held important positions in both the Corporate Banking and Commercial Banking departments. Recently, as the General Manager of the Corporate Banking Department, he has led a team to provide services to large leading enterprises. He has also served as the President of Citigroup Tianjin Branch and Citigroup Shanghai Branch.
It is reported that Lu Xuan reports to Wu Yanyi, the President of Citigroup North Asia and Australia. "Lu Xuan has achieved outstanding results in business expansion, customer service, and insight into the local market. The Chinese market is Citigroup's strategic focus, and we have a leading corporate banking business in the local market, which will further expand our business in China. Lu Xuan is very competent in this leadership role," commented Wu Yanyi.
Citigroup first entered the Chinese market in 1902. In 2017, Citibank became one of the first foreign banks to be allowed to establish a local corporate bank. With its global network, Citigroup China is committed to introducing multinational corporations into China and assisting Chinese companies in meeting their overseas strategic needs.
In September 2023, Citigroup China was approved by the Shanghai Futures Exchange and the Shanghai International Energy Trading Center to obtain the qualification of futures deposit custody banks for two futures exchanges, and can provide futures deposit custody services to qualified foreign institutional investors (QFIs) under their custody. Citibank was the first American bank to be approved for this business qualification.