(16 February 2022 – Asia) Citigroup is moving half a dozen senior equities staff from Hong Kong to Singapore and other markets amid growing concern around Hong Kong's future as a finance hub.
Lee Mcqueen, head of pan-Asia equity blocks, is among managing directors relocating to Singapore, following a recent move by Sue Lee, the region's head of equity derivatives distribution, people familiar with the moves said.
Another four to five directors, including Kevin Zolkiewicz, head of futures execution for Asia Pacific, Rob McVie, who focuses on prime finance, as well as Abhishek Choudhary, head of equity execution advisory in the region, are in talks to transfer to Singapore.
“The bank was being as flexible as possible to support staff who wanted to relocate due to family reasons or for client coverage,” said Citigroup Hong Kong-based spokesman James Griffiths.
While the number of relocations is tiny compared to the bank’s workforce in the division, it would be one of the biggest shifts of senior executives by a global bank out of Hong Kong amid growing concern over the city’s status as a regional finance center.