Singapore-based Morse will report to Jyrki Rauhio, Citi PB’s South Asia head. He is tasked with expanding Thailand and Malaysia business and with overseeing client strategy in Brunei, the bank said in a statement.
Morse will “lead the respective country teams of private wealth managers to focus on deepening existing relationships with the bank’s ultra high net worth (UHNW) clients in these markets”, the statement said.
Tim Morse, Citi
Previously, Morse was a team leader for the Singapore, Thailand and Malaysia markets at JP Morgan Private Bank, where he had worked since 2011. Prior to that, he was in senor roles at Deutsche Asset and Wealth Management.
Senior shakeup
This year, Citi rolled out a new organisational structure structure that puts global market managers in key regions. The revamp is expected to align the bank better with clients in each market.
In Asia, the bank has had several people moves at the top levels. In February, Bassam Salem, CEO of Citi Private Bank, stepped down and he was replaced by Stephen Lo.
In February, Adam Proctor was reassigned to head the newly-created position of Singapore-based global market manager (GMM) for Singapore, Australia and New Zealand, reporting to Rauhio. He was previously head of managed investments and advisory for Asia-Pacific.
In March, Asia-Pacific CEO of Citibank Weber Lo Wai-pak quit unexpectedly and in April Francisco Aristeguieta was brought in as his replacement.
Earlier this month, Citi plucked Simon Kastono from Credit Suisse, where he was managing director and market leader of Indonesia. At Citi, he is GMM for Indonesia and he reports to Rauhio.
Also in April, Angel Ng was appointed country officer and chief executive officer for Hong Kong and Macau, reporting to Aristeguieta.
Earlier this month, the bank said its Asia-Pacific operations increased profit 48% YoY to $1.24b in Q1.
