Citigroup’s South Asia head of private banking Jyrki Rauhio (pictured) is leaving the firm at the end of March to seek other opportunities, Citywire Asia has learned.
Rauhio’s role will not be replaced and all the South Asia global market managers will now report to Steven Lo, Asia Pacific head of Citi Private Bank.
A spokesperson for the bank said: ‘Jyrki performed the role of South Asia head for two years and did a great job putting in place a platform for growth and wants a new challenge.
‘As a result, this gives us the opportunity to relook the structure of the business and Steven has decided to streamline it.’
A veteran of 23 years at Citi, Rauhio, who was on the cover of Citywire Asia’s Private Wealth magazine in March 2018, is originally from Finland, but is currently based in Singapore.
Over the course of his career he has worked in a number of markets, initially within corporate and investment banking.
He moved to the private banking division in 2010 as the global chief operating officer for investment finance in London.
The following year, he transferred to Hong Kong to become head of investment finance and banking in Asia Pacific, before assuming his current role in December 2017.
Rauhio oversees the overall franchise for Citi’s ASEAN, global India, Australia and New Zealand businesses.