Citi Appoints Satvinder Singh to Head Direct Custody and Clearing and Intermediaries in Europe, Middle East & Africa

London - February 6, 2008 – Citi announced today the appointment of Satvinder Singh as head of Direct Custody and Clearing and Intermediaries in EMEA. He will report to Naveed Sultan, head of Global Transaction Services EMEA and Andrew Gelb, global head of Direct Custody and Clearing, GTS.

He will be responsible for all aspects of the EMEA Direct Custody and Clearing business, including the branch network across the region as well as for senior level interaction with market intermediaries.

Satvinder was most recently global head of Sales and Relationship Management for the direct custody and clearing business at HSBC. He has spent 14 years in the DCC business there, and has worked in India and Hong Kong. While at HSBC he also served as Asia head of Sales and Relationship Management for its Direct Custody and Clearing business.

He holds an MBA from Durham University in the UK and a BE from Delhi College of Engineering.

"Satvinder has an established track record of growing a direct custody and clearing franchise with extensive senior relationships within this global client-base," said Naveed Sultan, Citi’s head of Global Transaction Services EMEA. "We are pleased to have him on our team."

"Satvinder’s appointment underlines Citi’s commitment to the custody business in EMEA. With the largest proprietary custody network in the industry at 51 markets, of which 29 are in EMEA, I look forward to working closely with Satvinder to continue to manage the business in EMEA" said Andrew Gelb, Global Head of Direct Custody and Clearing and Intermediaries for Citi’s Global Transaction Services business.

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