Citigroup Inc. named Bassam Salem as chief executive of its private-banking operations across the Asian-Pacific region, part of the New York bank's efforts to cater to the region's growing affluent class.
Mr. Salem succeeds Aamir Rahim, who will become head of Citi's Public Sector Group for Asia Pacific, which advises sovereign-wealth funds and government investment funds on their investments.
Mr. Salem joins Citi as many private banks are expanding in Asia, trying to tap into the wealth created by the fast-growing economies in the region.
To compete more effectively, Mr. Salem will seek to further integrate Citi's private bank with its institutional investment business, said a person familiar with the matter. Wealthy individuals are increasingly demanding the same services as institutional clients such as hedge funds.
Citi said it is the largest wealth manager in the Asian-Pacific region, with assets under management of $193 billion.
Mr. Salem will be based in Hong Kong and will join Citi's Asia Pacific executive committee starting in early autumn.
Mr. Salem joined Citi Private Bank in Geneva in 1985 and for the next 15 years held several roles, including as regional investments head in Asia based in Singapore, followed by a similar job for Europe, the Middle East and Africa, based in Geneva, and then global investments head.
In 2001 he joined EFG Bank, a Switzerland-based lender, to set up its investment division. He later moved to Singapore to expand EFG in Asia and the Middle East. He most recently was EFG Bank's chief executive for the Middle East and India as well as its investment head for the Asian-Pacific region.
Mr. Rahim, who has led Citi Private Bank's Asian-Pacific business for the past three years, will start his new job on Sept. 1. He will continue to be based in Hong Kong.
Alison Tudor is a reporter for The Wall Street Journal, where this story originally appeared. Write to her here.