In her new role, Luk will be responsible for the growth and management of bank's insurance business in Hong Kong, covering business development, sales and distribution, channel management and product assurance, the bank said.
She re-joins Citibank from HSBC, where she was most recently global head of wealth insurance (East), driving global product strategies and implementing global strategic projects in Asia.
Luk has worked for a number of major banks including Citibank, HSBC and Standard Chartered. She has over 20 years of experience in insurance, and, in particular, a track record in developing and expanding the bancassurance business of global banks.
Christine Lam, country business manager, Citibank global consumer banking, said that Luk will "play a key role in the implementation of our strategic bancassurance partnership with AIA".
Citibank and AIA entered into a 15-year bancassurance deal at the end of the last year. Under the deal, the bank will offer the insurer’s products in 11 markets in the Asia-Pacific region, including Hong Kong, Singapore, Thailand, China, Indonesia, the Philippines, Vietnam, Malaysia, Australia, India and Korea, reaching 13m customers.
Recently, in its results filing AIA said it has made an $800m payment to Citibank as a part of this deal.
