Based in Hong Kong, the newly created role will support the bank’s clients with their transition to cleaner energy.
Citi has appointed William Pang as head of natural resources and clean energy transition (NRCET) investment banking Asia, effective immediately, the U.S. lender announced in a statement on Tuesday.
Pang joined Citi in 2015, and has over 18 years of investment banking and legal experience, including at HSBC, Lexicon Partners, Macquarie Group and Clifford Chance.
In his new role, Pang will work closely with the global leaders of NRCET and the leaders of the relevant sectors – chemicals, energy, power and clean energy transition. He is currently head of power and infrastructure investment banking for Asia, and will concurrently hold this role, the announcement said. He will report regionally to Jan Metzger, Asia Pacific head of banking, capital markets and advisory and globally to NRCET co-heads Stephen Trauber and Sandip Sen.
In 2019, Citi met its $100 billion environmental finance goal four years early. In April 2021, it announced a $500 billion environmental finance goal and $1 trillion sustainable finance goal, all by 2030. Circular economy and sustainable agriculture and land use are among the new criteria for its $500 billion goal.
The drive toward low and net-zero carbon solutions will facilitate the formation and growth of many new companies and will require significant capital investment. It will also facilitate the formation and growth of many new companies requiring significant capital investment, Metzger said.