Citi Appoints DBS’s Yeo Wenxian as Head of Wealth for Asia-South

According to a memo seen by Reuters, Citi Group has appointed Yeo Wenxian as Head of Wealth for the Asia-South region, bringing her on Board from Singapore’s largest lender, DBS Group Holdings. Yeo joins Citi from DBS Group Holdings, Singapore’s largest bank, where she spent 13 years in various roles. In addition to her new role, Yeo will also serve as the CEO of Citibank Singapore Ltd. Andy Sieg, Citi’s head of wealth, announced the news in the memo, noting that Yeo is expected to begin her role on November 1.

CEO Jane Fraser is leading a significant overhaul aimed at enhancing the bank’s performance, reducing costs, and streamlining its diverse operations. Wealth management has been highlighted as a key area for growth and profit improvement. Fraser brought Sieg over from Bank of America last year to drive Citi’s strategy for expanding its wealth management business.