Citibank Japan Ltd., a new subsidiary formed Sunday by U.S. financial giant Citigroup Inc., has kicked off operations targeting wealthy retail banking customers, the company said Monday.
Citigroup appointed Sunil Kaul as Citibank Japan president, replacing Douglas Peterson, who became chairman. Peterson will remain the highest ranking representative of Citigroup in Japan.
"We are obviously interested in the mass affluent segment," Kaul said at a news conference.