Advertisement

Exclusive | Citigroup CEO Jane Fraser on Hong Kong’s enduring charm and strategic role

A potential trade war will not alter the US bank’s expansion plans in Asia, or Hong Kong’s importance, Fraser says in an exclusive interview

Reading Time:4 minutes
Why you can trust SCMP
Citigroup CEO Jane Fraser, pictured during the Hong Kong Monetary Authority’s Global Financial Leaders’ Investment Summit at Grand Hyatt in Wan Chai on November 19, 2024. Photo: Dickson Lee

Citigroup’s global CEO Jane Fraser has a special place in her heart for Hong Kong. While her personal connection to the city does not stretch back as far as that of the company she leads – 122 years – it is measured in decades.

Advertisement
“I have been coming to Hong Kong for pleasure since the 1980s when I lived in Australia as a teenager,” Fraser said in an exclusive interview last week at the Global Financial Leaders’ Investment Summit. “I am Scottish, and the Scots always travel everywhere. Scots have a proud history in Hong Kong. For me, I have always found it to be incredibly warm and welcoming.”

Fraser was among 300 global financiers who gathered in the city for the three-day summit from November 18 to 20 to share insights and discuss industry changes.

Needless to say, the prospect of heavy tariffs on Chinese goods when Donald Trump returns to the White House was one of the most discussed topics. While the potential tariffs may alter global trade flows as companies diversify their production outside mainland China, Fraser does not see the situation changing Citigroup’s Asia strategy.

“It will not affect our expansion in the region,” she said. “Citi has the benefit of such globality and presence in many different geographies, with over 120 years here in Hong Kong. We have also been in mainland China, India, Japan, Singapore, and many other markets for a long time.”

Advertisement
Fraser met China’s Vice-Premier He Lifeng in Beijing on Thursday.
Advertisement