Citi makes regional statement
(7 July 2009 – Global) In a statement affirming Citigroup’s commitment to being a global franchise, the bank has made a number of appointments in regions outside of its home base of America.
Just last month, Citigroup’s chief executive indicated that the bank will look outside its US home market for growth, as the US economy goes through an adjustment period.
Citi said that the appointments of new regional leaders in Asia Pacific and EMEA (Europe, Middle East and Africa) reaffirm the bank’s commitment to its global franchise.
Citi chief executive officer Vikram Pandit said that in appointing these executives to drive the business in Asia and EMEA, he is reaffirming Citi's commitment to these markets and to helping clients and customers execute on growth opportunities around the world.
Effective immediately are the appointments of Shengman Zhang as Chairman of Asia Pacific, Stephen Bird and Shirish Apte as Chief Executive Officers of Asia Pacific and finally Bill Mills and Alberto Verme as Chief Executive Officers of EMEA.
In the Asia Pacific, the new Chairman, Shengman Zhang, will be responsible for forging and expanding relationships with clients, regulators, government officials and employees across the region.
The CEO position in Asia Pacific has been split in two. As CEOs, Bird will be responsible for Northern Asia and Apte for Southern Asia. The two will have joint responsibilities for Asia Pacific's overall performance, strategy and execution.
A similar division has been created in the extensive EMEA grouping. In EMEA, Mills will be responsible for business in Western Europe and Africa, an almost vertical division of the globe.
Moving East, Verme will take responsibility for business in Central and Eastern Europe and the Middle East.
Similar to the Asia division, Mills and Verme will be jointly responsible for performance, strategy, and execution across EMEA.
Citi said that the appointments of new regional leaders in Asia Pacific and EMEA (Europe, Middle East and Africa) reaffirm the bank’s commitment to its global franchise.
Citi chief executive officer Vikram Pandit said that in appointing these executives to drive the business in Asia and EMEA, he is reaffirming Citi's commitment to these markets and to helping clients and customers execute on growth opportunities around the world.
Effective immediately are the appointments of Shengman Zhang as Chairman of Asia Pacific, Stephen Bird and Shirish Apte as Chief Executive Officers of Asia Pacific and finally Bill Mills and Alberto Verme as Chief Executive Officers of EMEA.
In the Asia Pacific, the new Chairman, Shengman Zhang, will be responsible for forging and expanding relationships with clients, regulators, government officials and employees across the region.
The CEO position in Asia Pacific has been split in two. As CEOs, Bird will be responsible for Northern Asia and Apte for Southern Asia. The two will have joint responsibilities for Asia Pacific's overall performance, strategy and execution.
A similar division has been created in the extensive EMEA grouping. In EMEA, Mills will be responsible for business in Western Europe and Africa, an almost vertical division of the globe.
Moving East, Verme will take responsibility for business in Central and Eastern Europe and the Middle East.
Similar to the Asia division, Mills and Verme will be jointly responsible for performance, strategy, and execution across EMEA.
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