Citigroup has appointed ex-Bank of America Merrill Lynch executive, Catherine Cai, to serve as its newest Head of China investment banking as well as its China chairman, who is slated to begin her new role only in June or July, according to a Reuters report.
In her new role at Citigroup, Ms. Cai will serve officially as its managing director, where she will be reporting to Mark Slaughter, Citigroup’s Head of Corporate and Investment Banking in the Asia-Pacific (APAC) ) region.
Ms. Cai is replacing Roger Zhu, Citigroup's former head of Greater China corporate and investment banking, who parted ways with the banking group earlier this year.
Ms. Cai joins Citigroup from BofA Merrill Lynch, having worked as its managing director. Her stint at the bank is part of a two decade long career in Chinese investment banking, which also saw her in a similar role at Morgan Stanley.
According to Mr. Slaughter in a recent statement on the appointment, “She has excellent client relationships around the region and has been involved on several landmark and groundbreaking transactions from China during her career.”
