HONG KONG (BLOOMBERG) - Citigroup named Shyam Sambamurthy as the first global head of its international personal bank business, which focuses on managing the wealth of clients who have assets around the world.

MR Sambamurthy, a 27-year Citigroup veteran based in Singapore, will oversee a business that has 260,000 clients with more than US$60 billion of assets under management, the bank said in a press release on Tuesday (Oct 13). He was previously business manager in Singapore for the personal bank.

Mr Sambamurthy will report to Anand Selvakesari, the head of consumer banking for Asia Pacific, and Gonzalo Luchetti, who is the lender's global head of wealth management and its Asia retail bank head. In July, Citigroup appointed Mr Selvakesari to lead Asia Pacific consumer banking, which generated US$7.5 billion of revenue last year, just over half the total for the region.