Citi Names Paul H. Simpson as Head of Global Public Sector and Healthcare Markets for Its Global Transaction Services Business
New Position Reflects Importance of Growing Market Segments for Transaction Services
New York - Oct 29, 2007 – Citi Markets & Banking announces that Paul H. Simpson is joining its Global Transaction Services division in December to head global efforts around the Public Sector and Healthcare market segments. Reporting directly to Paul Galant, CEO of Global Transaction Services, Paul Simpson will assume this new global role to sharpen the focus on solutions and services for clients in the Public Sector and Healthcare markets -- segments that Citi considers key to the overall growth of transaction services. The Public Sector includes governments, not-for profit institutions and other governmental entities, including postal institutions. The Healthcare Sector includes pharmaceuticals, hospitals, and equipment and lab manufacturers as well as healthcare plans and HSA accounts.
Paul Galant, CEO of Global Transaction Services said: "We are thrilled to have Paul join Citi. He is a recognized leader in the Treasury Services industry with a proven track record of product development and innovation. His experience will enable us to further accelerate the development of best-in-class solutions for clients in the Public Sector and Healthcare markets -- sectors that represent significant growth opportunities for our business."
Simpson joins Citi from JP Morgan Chase where he held several roles in Treasury Services since 2001. In his most recent role - Treasury Services Business Executive, Simpson had global responsibility for a variety of innovative Treasury Services products, including Trade Services and Logistics, Public Sector, Wholesale Card Services (Commercial Card, Prepaid/Stored Value, Order-to-Pay) and Healthcare. In addition to his product roles, he was active in new business development and during his tenure he completed four major strategic acquisitions.
Prior to his position with JP Morgan Chase, Paul was Managing Director and Head of eCash Solutions and Global Bank Export Services for Deutsche Bank. Before joining Deutsche, he worked for Bankers Trust as the Global Head of Trade Services, and for the Australia and New Zealand Banking Group (ANZ) as a Senior Manager in the Investment bank in both Sydney and New York.
Paul holds an MBA in Finance, Economics and International Business from New York University, and a BS in Russian from Georgetown University in Washington, D.C. An industry leader who has been recognized as one of the Top 100 finance professionals in the U.S. by Treasury & Risk Management magazine, Paul has served on many editorial boards of several prominent industry publications and has participated on the advisory committees and boards of several leading industry organizations.
Global Transaction Services, a division of Citi Markets & Banking, 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 spanning over 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of 07, it held $255 billion in liability balances under administration and $12.5 trillion in assets under custody and trust.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.