"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 “home” with greater maturity, managing complex balance sheets and liquidity and interest rate risk in investment portfolios.

The foundational thinking and professional skills cultivated at Citi China laid a solid groundwork for Zhang Xiaoying’s 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 to write a perfect balance between career and family on her personal balance sheet.

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

Below are 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 led you to choose 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 value 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 this 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 highly value. Achieving a proper balance between career and family is a goal many aspire to, and I am glad I have realized 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 the wish of every professional woman.

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 provide the thinking foundation for managing complex balance sheets later on?

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, I switched to it after five years. I still remember a senior at Citi telling me: no matter where you start in your career, eventually you will find your most suitable position.

Q: Managing a balance sheet often requires weighing “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 job requires me to stay sharp on 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—helping us navigate 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 manage yourself positively to face new changes. Trust that time will reward your efforts accordingly.

Text by Wang Xinyu

Editing by Xu Nan