Citigroup Inc has announced Bassam Salem to be the chief executive of its private banking operations across Asia Pacific. This appointment has been made to provide assistance to the growing wealthy class of the region.

Citi Private Bank has been preferred by the world’s wealthiest and most influential individuals. Around one third of the world's billionaires have been enjoying its services.

Mr. Salem’s appointment came after Aamir Rahim announcement of taking the position of the head of Citi's Public Sector Group for Asia Pacific, which gives advice on investments of sovereign wealth funds and government investment funds.

Citi has been the largest wealth manager in Asia Pacific region with assets of US $193 billion.

Mr. Salem will be joining the Hong Kong branch and the Asia Pacific Executive Committee in the starting of autumn.

Citi Private Bank CEO Jane Fraser stated that the joining of Bassam back to Citi Private Bank will ensure that the business will rise to a new level and capitalize on the prospects that the bank has been seeking in Asia. His broad experience will be a great help to the bank.

"We especially want to thank Aamir for his leadership over three years of building the Private Bank's Asia Pacific franchise and for his many contributions to the business", Fraser said.