Citi promotes Borch as new COO for investment bank in Asia -memo
HONG KONG, Aug 8 (Reuters) - Citigroup Inc has named Michael Borch as its new chief operating officer for its corporate and investment bank in Asia-Pacific, replacing Chris Laskowski in the role, according to an internal memo obtained by Reuters on Thursday.
The move will allow Laskowski to focus on the roles he retains as head of the financial entrepreneurs group for the region and head of corporate and investment banking in Hong Kong, the memo said.
Laskowski had held the COO role since 2010 and was instrumental in the formation of Citigroup's China securities joint venture.
Borch, who had headed the bank's coverage of clients in the industrials and transportation sectors in Asia-Pacific, will retain responsibility for the latter sector as he steps up to the COO role.
A Citigroup spokesman confirmed the contents of the memo.