Citi Appoints Naveed Sultan Global Head of Treasury and Trade Solutions

GTS Positioned for Future Growth in Emerging Markets

New York - June 29, 2011 – Citi’s Global Transaction Services today announced that Naveed Sultan has been appointed global head of Treasury and Trade Solutions reporting to Global Transaction Services CEO Francesco Vanni d’Archirafi. Mr. Sultan will manage Citi’s cash management and trade services business with reported revenues of $7.2B in 2010. As a part of its continuing effort to grow its franchise, GTS will also make changes in the way it manages the developed and emerging markets in Europe, Middle East and Africa, among other efforts. The region will be split into two segments; Western Europe, under the continued management of Aidan Brady and Central and Eastern Europe, Middle East and Africa under the leadership of Elias Panayotopoulos. This new structure will enable GTS EMEA to pursue a differentiated strategy and approach to the developed and emerging markets, and leverage Aidan and Elias’ extensive experience in these geographies.

Citi’s Global Transaction Services is embarking on the next level of growth and is positioned to capture further opportunities by focusing on the emerging markets, increasing wallet share in key client segments and their global supply chain ecosystems, and tapping into new opportunities in cities with digital solutions and enterprise-wide services in collaboration with other parts of Citi.

"We have defined the next critical steps to make us more client-centric, relevant and able to deliver client excellence as a globally connected business," said Francesco Vanni d’Archirafi, CEO of Citi’s Global Transaction Services. "Naveed has done an exceptional job heading our transaction services business in Europe, Middle East and Africa for the past four years, and has positioned GTS EMEA strategically for medium- to long-term growth. As an 18 year veteran of Citi, we look to him to continue our long established track record of excellence driven by innovation, client service and financial performance across treasury and trade," Mr. Vanni d’Archirafi said.

Mr. Sultan serves as a director on the board of Citibank Europe plc and Citibank A.S (Turkey), and is also a member of Citi’s EMEA Operating Committee, and the Management Committees of the Institutional Clients Group and Global Transaction Services. Prior to this appointment, Mr. Sultan was Head of Cash Management Solutions for GTS in EMEA. Mr. Sultan joined Citi with Saudi American Bank (SAMBA), an affiliate of Citibank, in 1993 where he held several senior positions including Global Transaction Banking Group Head and Senior Country Operations Officer. In 1999, he became the business head for Citi’s Transaction Bank for Western Europe, based in London. Before joining Saudi American Bank, Naveed was the Country Corporate Banking Head for Standard Chartered Bank in Pakistan. Mr Sultan has a consistent and sustained track record in transforming and building businesses in very diverse geographic and environmental contexts. He has wide ranging experience covering Corporate Banking, Corporate Finance, Transaction Banking, Operations & Technology and is a regular speaker and author on such topics. He has also taught Business to Masters graduates at the University of Punjab in Pakistan. Mr Sultan holds an M.S. in Management from M.I.T’s Sloan School of Management as well as an M.B.A. from the Institute of Business Administration, Lahore.

Aidan Brady has been with Citi for 25 years, with the last four dedicated to managing GTS’ Western European division, with responsibility for 17 countries. He will continue to be based in Dublin, where he will remain Citi Country Officer for Ireland and CEO of Citibank Europe plc.

Elias Panayotopoulos has been with Citi for 37 years, and brings a wealth of experience from roles across the bank. He has spent the past eight years as GTS Central and Eastern Europe division head, with responsibility for 12 countries.

Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and $13 trillion in assets under custody.

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