"Her Strength" | Citibank China Financial Markets Treasury Head Zhang Xiaoying: The Art of Finding Balance on the Growth Journey

In the high-intensity arena of the financial industry, how do women leaders carve out their own paths? Zhang Xiaoying, Head of Treasury at Citi China’s Financial Markets Department, offers the answer: “The art of balance”—weighing opportunities and risks, harmonizing career and family.

In 1996, Zhang Xiaoying was drawn to Citi China, an international bank with strong capabilities and a unique corporate culture. She began her financial career as a management trainee at Citi Shanghai. This was also a key part of Citi China’s talent development strategy—building a strong talent pipeline through its renowned management trainee program and ongoing training at all levels. Citi not only provided systematic professional training but also offered an open and inclusive platform that allowed her to quickly integrate and grow. Through market fluctuations and career changes, she returned with greater maturity to take on the complex management of asset-liability balances, liquidity, and interest rate risk management.

Her foundational thinking and professional expertise cultivated at Citi China laid a solid groundwork for her career, helping her find the most suitable positioning. This is reflected not only in her pursuit of a professional balance among liquidity, safety, and returns but also in her wisdom in writing a perfect balance between career and family on her personal asset-liability sheet.

Zhang Xiaoying, Head of Treasury, Citi China Financial Markets Department

Selected excerpts from the interview:

Q: The financial industry, especially the high-intensity, fast-paced financial markets, has traditionally been considered male-dominated. How did you enter this industry? What factors influenced your choice of this career path?

Zhang Xiaoying: When I graduated with my master’s degree, my university organized a career guidance seminar, and Citi was one of the sponsoring companies. I was attracted by Citi’s strength and corporate culture. After several rounds of interviews, I was honored to be accepted as a management trainee.

As one of the earliest foreign banks to operate in China, Citi stood out for its advanced financial concepts, sound internal controls, and mature management system. I also highly valued Citi’s commitment to diversity and equality in talent recruitment and development.

I believe that working in finance requires a keen attention to detail, rigorous data analysis, and resilience to challenges in a high-intensity, fast-paced environment. I am confident in this and grateful for the opportunities to grow further through this process.

Q: You chose to return to Citi at the end of 2018. What was the core factor that attracted you to “come home” again? How is your mindset different now compared to when you first entered as a management trainee in 1996?

Zhang Xiaoying: After careful consideration, I decided to return to Citi, marking another exciting new phase in my career. Before rejoining, I had the opportunity to work in a role that offered a valuable work-life balance, which was also a priority for me in my youth.

Having achieved that balance, I felt ready to take on bigger professional challenges and growth opportunities. When Citi invited me back, the timing was perfect. Citi’s professional management style, industry-leading influence, and high standards for employees are all qualities I value. Achieving a proper balance between career and family is a goal shared by many, and I am glad to have accomplished it. Just as my work involves managing the balance sheet—balancing liquidity and interest rate risks—I feel my career has also achieved a perfect balance between work and family. I believe this is a wish shared by many professional women.

Q: As a management trainee at Citi Shanghai in 1996, you were part of the “golden generation” of foreign banks’ development in China. Looking back, how did the training system at that time lay the thinking foundation for your later handling of complex asset-liability management?

Zhang Xiaoying: Citi’s management trainee training has always been ahead of the market, setting standards that many domestic financial institutions adopted over a decade later. The training not only provided fundamental financial knowledge but also emphasized integrating new employees into the corporate culture, ensuring they thrive within the company environment.

This continuous learning and growth philosophy has guided my career. Although I didn’t start in the financial markets department initially, five years later I transitioned into it. I still remember a senior Citi colleague telling me: no matter where you start in your career, ultimately you will find your most suitable position.

Q: Asset-liability management often requires balancing “liquidity, safety, and profitability.” How do you adjust your investment portfolio strategy in today’s low-interest-rate environment?

Zhang Xiaoying: That’s the art of balance. My work requires me to stay keenly aware of the market to maximize returns while maintaining strong risk awareness to ensure the bank’s liquidity and safety. This demands a deep understanding of market dynamics and a solid risk management framework. We achieve this through close collaboration with various departments within the bank. Being eager to learn, thoughtful, honest in communication, and broad-minded are essential qualities for this role, enabling us to handle complex internal dynamics and market conditions effectively.

Q: What advice would you give to young women aspiring to develop in the financial industry, especially in financial markets?

Zhang Xiaoying: Always maintain a positive attitude toward learning to enhance your comprehensive abilities—including professional skills, communication, leadership, and a deep understanding of things. Don’t aim too high too quickly, nor underestimate yourself. Manage your emotions and health well, balance your career and family, and prepare yourself for change. Embrace these changes with a positive attitude, and over time, rewards will come.

Text by Wang Xinyu

Edited by Xu Nan