Citigroup North Asia Corporate Finance Head Shi Yuanzhi to Return to Goldman Sachs
Citigroup veteran banker Shi Yuanzhi, who heads corporate finance for North Asia, Australia and South Asia, is returning to Goldman Sachs, where he previously worked for 19 years. His move follows a series of senior departures from Citigroup's Asian investment banking business, including co-head Jan Metzger's exit to Standard Chartered in March 2026 and Hong Kong investment banking head Ben Ngai's departure in November 2025. Citigroup's Asian equity underwriting ranking has fallen from first in 2024 to seventh in 2026.
Hong Kong's initial public offering market continues to gain momentum, intensifying competition among financial institutions for senior investment banking talent. Citigroup veteran banker Shi Yuanzhi is set to move to Goldman Sachs. Shi was recently appointed to the HKEX listing committee and holds the role of head of corporate finance for North Asia, Australia and South Asia at Citigroup. He previously spent 19 years at Goldman Sachs, then had a brief stint at Barclays before joining Citigroup in 2012.
The move follows a series of senior management changes in Citigroup's Asian operations. Jan Metzger, co-head of Citigroup's Asian investment banking business, left at the end of March 2026 to join Standard Chartered as global head of corporate and investment banking. Hong Kong investment banking head Ben Ngai departed in November 2025, with Shi temporarily assuming his responsibilities. Citigroup's ranking in Asian equity underwriting has slipped from first in 2024 to seventh in 2026.
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