Citi Names New Sustainability Head for Asia Pacific
September 17 2021 - 3:26AM
Dow Jones News
By Fabiana Negrin Ochoa
Citigroup Inc. has appointed a new ESG banking head for Asia
Pacific, underlining the significance of the region in its
sustainability strategy.
Rapheal Mun will lead the newly created role of Head of
Sustainability & Corporate Transitions at Citi's Banking,
Capital Markets and Advisory group, the U.S. bank said Friday.
Ms. Mun is currently a senior banker in EMEA Project &
Infrastructure Finance and has nearly two decades of experience in
structured finance, infrastructure, power, energy and real estate.
She will relocate from London to Singapore to take up the new
post.
The appointment by Citi, which has raised a record $30
billion-plus in sustainable funds for Asia clients so far this
year, follows similar moves by other financial players.
Japan's Mitsubishi UFJ Financial Group in April named Colin Chen
as its first ESG finance head for Asia Pacific, while Sumitomo
Mitsui Banking Corp. appointed Ghislaine Nadaud as director of ESG
solutions for the region in May. German lender Deutsche Bank AG and
index operator FTSE Russell both created APAC-focused ESG roles
last year.
Asia appears to be closing the gap with some other regions in
sustainable investing. According to recent data from BNP Paribas,
47% of APAC investors polled were committed to aligning investment
strategies with the carbon neutral-by-2050 goal set by various
countries, while 94% of Asia-based bond investors viewed ESG as a
key factor for long-term investment success.
Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com
(END) Dow Jones Newswires
September 17, 2021 03:11 ET (07:11 GMT)
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