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Updated Friday, July 11, 2008 0:00 am TWN, Reuters

Citigroup wealth unit Asia head Leung quits

SINGAPORE -- Citigroup’s head of its Asia-Pacific wealth management business, who was managing nearly 2,000 people, has resigned, the bank said Thursday. Kaven Leung, who has been with the bank for more than 20 years, became chief executive of the Asia-Pacific wealth management group last year. The unit includes the private bank and the Smith Barney retail brokerage.

Leung was managing private bankers in Australia, Hong Kong, Taiwan, China, Korea, Philippines, Singapore, Malaysia, Brunei, Indonesia, Thailand, Vietnam, India, and elsewhere, according to the bank’s Web site www.citi.com.

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