Citi chases renminbi market share with new appointment

Citi has appointed Shiming Tan as renminbi product manager, as part of the bank’s effort to become a top-tier provider in the Chinese currency market.

Tan will be responsible for Citi’s renminbi initiatives and will liaise on the bank’s behalf with the relevant regulators for products, services and initiatives related to the internationalisation of the renminbi.

He will relocate from Shanghai to Hong Kong and report to Nadir Mahmud, Asia head of global markets, and Amol Gupte, head of Citi’s transaction services, known as CTS, for the Asia-Pacific region.

Both Mahmud and Gupte were promoted to their current positions this year. Gupte, previously...