Citibank (China) Co., Ltd. (Citi China) announced the appointment of Luke Lu as head of Citi China Commercial Bank. Lu will oversee all of Citi’s Commercial Bank operations in China, leading the team supporting the growth and development of China’s emerging and developing corporates.
Christine Lam, Chief Executive Officer and President of Citi China, said, “Supporting the next wave of Chinese corporates is a priority for Citi. We see opportunities for further growth across commercial banking as we support these fast growing emerging champions both locally, regionally and globally with our network in close to 100 countries and I look forward to Luke’s leadership in supporting our clients’ growth.”
Lu has over 20 years of extensive experience in the banking industry. He re-joins Citi from MUFG Bank China, where he was head of Global Corporate Banking for two years. Prior to that, he spent 15 years with Citi China between 2002 and 2017 with roles that included head of Technology, Media and Telecom Corporate Banking, East China head of Global Corporate Banking and branch manager of Citi in Shanghai, Chief Operating Officer of Global Banking China, branch manager of Citi in Tianjin, and head of Payables Product in Treasury and Trade Solutions China.
In 2004 Citi China established the Commercial Bank and became the first foreign bank to provide financial services to local small and medium-sized enterprises (SMEs).
Some fifteen years after its establishment, Citi China Commercial Bank now covers the Yangtze Delta, the Pearl River Delta and Bohai Bay area, which has the highest concentration of SMEs in China.
In 2018, Citi Commercial Bank delivered strong revenue growth including banking new economy companies.