Andrew Tjaardstra

The REIT owns seven properties including Crowne Plaza Changi Airport (pictured), One Raffles Place, OUE Bayfront, and the Hilton Singapore Orchard.

In addition, there is growing demand for issuance in Asia's renewables market and also for private credit, according to senior managers at the bank.

James Kemp, head of real estate, Apac, MAM, told FA that in Japan there is an undersupply of modern logistics space and an emergence of new logistics hubs in response to limits to the driving time of truck drivers.

David Bailey will return to Australia from his current role as head of Citi’s cross border capital markets in New York.

Henry Chui will lead the firm's seventh office in Asia, in addition to his role as head of private wealth, Asia Pacific, at the Swiss private markets specialist.

Cécile Gambardella, will relocate from Paris to Hong Kong, to become head of sales markets, Japan, Asia North, Australia and Asia South. Citi has also set-up a unit in Japan to serve "mid-sized companies", which Yutaka Naito will lead.

Roz Smith took up the newly created role in London at the beginning of May.

In its 240th year the bank has created the brand BNY, with divisions to be renamed BNY Investments, BNY Wealth and BNY Pershing.

The tariffs will begin on July 4 and range from 17.4% to 38.1%, depending on the model.

The deal, including the transfer of 300 employees and around $3.6bn of assets and deposits, was announced in October 2023 as part of a wider strategy by Citi, which has now closed sales of consumer units in nine markets.