Citi names head of Asia consumer, health care group

Enlarge Photo The Citigroup sign is seen outside the Citigroup Center in New York in this October...

Fri, Feb 22 10:11 AM

Citigroup has appointed a veteran banker to head its Asian consumer and health care group in a bid to tap into dealmaking by companies capitalising on surging domestic spending in countries such as China and India.

The bank said in an internal memo that it had appointed Ted Kuh to the newly created position. Kuh has been based since 1999 in London, where he is co-head of the bank's European consumer group.

Among recent Citi consumer sector deals in Asia, it advised Scottish spirits maker Whyte & Mackay in its $1.18 billion sale last year to India's United Spirits Ltd. It also advised South Korea's Eugene Corp in its $2.1 billion purchase of appliance retailer Hi-mart.

Kuh will be based in Hong Kong, relocating in March, and will remain as co-head of the bank's global retail group.

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