Citi's Marc Luet handed Asia North, Australia Cluster role as Angel Ng retires

Luet, currently head of Citi's Japan Cluster, will oversee Australia, China, Hong Kong, Korea, New Zealand and Taiwan, with Ng retiring after 26 years with the bank on April 5.

March 15, 2024

Marc Luet, Citi’s Japan Cluster and banking head is set to become Citi's Asia North and Australia Cluster and banking head from April 1, according to a company media release. 

In his new role, Luet (pictured left) will relocate from Tokyo to Hong Kong and will take on responsibility for geographic management and legal entity management across the cluster, as well as oversight of products and banking segments and local client engagement. 

The move comes Citi’s Angel Ng has decided to retire after 26 years with the bank, effective April 5. Ng was most recently the Asia North and Australia Cluster and banking head, with oversight over Citi’s businesses in Australia, China, Hong Kong, Korea, New Zealand and Taiwan.

Ng (pictured right) joined Citi Hong Kong in 1998 and served as head of retail banking, head of wealth management and head of cards before being appointed consumer business manager for Hong Kong in 2015, where she led the digital transformation of the business. She was appointed chief executive officer (CEO) for Hong Kong and Macau in 2018 and the head of Citi’s Asia wealth business in 2022.

Luet has held many positions as a Citi country officer (CCO) and CEO, including in Australia, New Zealand, Russia, Ukraine, Kazakhstan, Poland, Turkey, and Israel, in addition to the US firm's consumer banking business in EMEA. Luet will continue to hold his responsibility for Japan until a successor is named.  

Ernesto Torres Cantú, Citi’s head of international, commented in a statement: “The Asia North and Australia Cluster is a key growth area for Citi internationally, having been in the region since 1902.  Marc will be focused on creating greater connectivity across the bank to deliver the full power of Citi to our clients."

Cantú added: "I wish Angel happiness in this new chapter of life and look forward to Marc’s leadership to bring the cluster to new heights.”

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