Citi appoints Paul Hodes to wealth management role

Citi has appointed its Malaysian retail bank head Paul Hodes Asia-Pacific head of wealth management products for its regional consumer bank. The move is part of a drive by the US bank to boost sales of investment products to wealthy Asians.

Hodes will also take on a dual role as Asia-Pacific head of traditional managed investment products for its wealth management business. This job will see him lead the sale of traditional managed investment products, such as bonds and equities, to high-net-worth individuals in the Asia-Pacific region.

His position at the consumer bank is a newly created one, but the wealth management role existed earlier. In the latter role he replaces Stella Chua, who left Citi some time ago.

Hodes will be based in Singapore and will report to Jonathan Larsen, Asia-Pacific head of regional consumer banking, and to Debashish Dutta Gupta, Asia-Pacific head of investments for wealth management.