Citi Expand Investor Sales Team In China
Citi China announced October 21 three new hires in a move to further boost its local Investor Sales team.
Rance Lan (兰顺祥) rejoined as Vice President and will be responsible for the coverage of institutional clients in the eastern and southern China; while Wendy Wang Wenjun (王雯君) and Hou Yang (侯洋) both joined as Assistant Vice Presidents and will cover bond sales and local trading desk respectively. All three will be based in Shanghai and will report to Ji Yang, Head of Investor Sales China.
“We are seeing increased flows and interests from domestic institutional investors, especially on the back of the recent market liberalization actions announced by the government and these new hires further underline our goal to be a leading player in the institutional space in China,” said David Ratliff, Asia Pacific head of Investor Sales.
Rance, who was with Citi from 2007-2008, was a specialist in the China equity derivatives and structured products team based in Hong Kong. He then spent two years with a European commodity hedge fund. Prior to that, he also worked with JPMorgan and Goldman Sachs in equity roles for sales and structuring. Rance holds a bachelor of science in Economics from Tsinghua University.
Wendy Wang Wenjun (王雯君) joined from China International Capital Corporation Limited (CICC), where she spent the past four years in bond sales and structured product sales. Before that, Wendy was with PricewaterhouseCoopers as Financial Due Diligence auditor. Wenjun holds a bachelor in International Economics and Trade from Shanghai Jiaotong University.
In this new role, Wendy will work with the capital markets origination and local trading desk to expand business opportunities in both primary and secondary market. She will also work closely with Rance to jointly drive business growth.
Hou Yang (侯洋) was most recently with Bank of Communications head office where he was an FX trader; and prior to that, he was a treasury dealer with Hang Seng Bank (China). In his new role, Yang will work closely with the local trading desk team to build out the interbank FX business. “Citi has very ambitious plans for the Markets business in China and institutional investors segment is a very important part of our growth strategy. We believe that under Ji Yang’s leadership and with these new additions to the team, we will be able to provide Chinese institutional investors with premium service for their foreign currency investment needs as well as for their domestic renminbi-based investment needs,” added Shenghua Hu, Head of Markets for China.
Citi has one of the largest Markets teams among international banks in China and has been an active participant in the Renminbi interbank bond market for the last few years. Citi has been recognized as a leader in the interbank bond market trading volume among foreign banks. It also continues to be one of the most active market makers in the interbank foreign exchange market in China.
Citi last month announced the expansion of its Investor Sales teams across Asia Pacific, including two hires in China, Dehua Shen based in Beijing and Stephenni Xie based in Hong Kong.