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HONG KONG— Citigroup Inc. has named a new head of wealth management for Asia Pacific, as the New York-based bank continues its strategic pivot toward serving affluent clients in the region.

Angel Ng, currently chief executive for Hong Kong and Macau, has been appointed as head of Asia Pacific for global wealth management, according to an internal memo viewed by The Wall Street Journal. The unit was created early last year by combining the private bank that targeted ultrarich individuals and the consumer-wealth operation that was managed by the retail bank, and was one of Chief Executive Jane Fraser’s major initiatives to reshape Citigroup.

Source: WSJ

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