JPMorgan Chase & Co. (JPM) hired Jing Zhao from Citigroup Inc. to run its financial institutions group for Asia outside Japan.

Zhao will be based in Hong Kong and report to Therese Esperdy and Todd Marin, co-heads of investment banking for the Asia-Pacific region, according to an internal memo that was confirmed by JPMorgan spokeswoman Marie Cheung. Zhao was co-head of Citigroup’s financial institutions team in Asia outside Japan. She joined Citigroup in 2006.

Zhao is joining JPMorgan after Olivier de Grivel, former head of the financial institutions group for the Asia-Pacific region, retired this year. Zhao, who spent more than a decade at Morgan Stanley before joining Citigroup, will start at JPMorgan this summer, according to the memo.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net