Citi has appointed Luke Lu as its head of corporates coverage for China, reporting to Christine Lam, chief executive officer at Citibank China, and Kaleem Rizvi, head of corporate banking, Asia-Pacific.

Lu, who will continue to be based in Shanghai, has over 20 years of experience in the banking industry and was most recently the head of Citi’s commercial banking division in China.

Before re-joining Citi from MUFG Bank China in 2019, where he was head of global corporate bank for two years, Lu spent 15 years with Citi China in a wide range of roles, including leadership roles in corporate banking, as branch manager of Citi in Shanghai and Tianjin, chief operating officer of global banking, China, and head of payables product for treasury and trade solutions, China.

According to a Citi spokesperson, Lu’s appointment comes at a crucial time as Citi is serving an increasing number of companies in China and his experience will help the bank meet this demand. Last year alone, the bank raised over US$30 billion for Chinese clients in global capital markets across debt and equity.