KUALA LUMPUR (Oct 07): Citi has appointed Lee Lung Nien as chief executive officer (CEO) of its wholly-owned subsidiary, Citibank Bhd, that has been vacant since former CEO Sanjeev Nanavati left the bank in end-July this year to pursue other opportunities.

Lee will have overall responsibility for Citi’s franchise in Malaysia, including its institutional clients group, and the consumer banking, Cards and Wealth Management businesses.

Lee will report to Michael Zink, Citi’s head of Asean.

“Malaysia is a strategic market for Citi. As we look to deepen our presence in the country, we are pleased to appoint a 24-year Citi veteran to head our business. Lung’s extensive industry and management experience coupled with his thorough understanding of the local market will be instrumental in driving our ambitions and plans to build an even stronger and sustainable Citi franchise for the benefit of our clients,” Zink said in a statement today.

Lee has held a number of senior management roles across the firm.  Prior to his current appointment, he was the regional AML business head based in Malaysia. In 2010, he was chief operating officer for Citi Singapore, leading key initiatives across the Singapore franchise.

He also served as head of treasury for Citibank Bhd from 2001 to 2004.

He returned to Singapore and was Asean head of corporate sales and structuring in 2004 before taking on the expanded role of co-head Asia corporate sales and structuring, and Singapore markets head. Lee first joined Citi in 1990 as a credit analyst in London and then Singapore before moving to the markets division.