Paul Simpson to Become Head of Treasury and Trade Solutions

NEW YORK - April 13, 2009 – Citi today announced that Francesco Vanni d'Archirafi has been appointed head of Global Transaction Services (GTS), reporting to Institutional Clients Group CEO John Havens. Citi also announced that Paul Simpson will assume responsibility for the Treasury and Trade Solutions business, reporting to Mr. Vanni d'Archirafi.

Mr. Vanni d'Archirafi will manage Citi's industry leading Global Transaction Services business, succeeding Paul Galant, who has taken a new assignment running Citi's North American and International Credit Cards businesses.

"Francesco has done an outstanding job heading our Treasury and Trade Solutions business for the past two years. As a 25 year veteran of Citi, we look to him to continue GTS' long established track record of excellence driven by innovation, client service and financial performance across treasury, trade, securities and fund services. Paul Simpson has done great work growing the Wholesale Cards businesses as well as our business with the public sector globally. We look to him to continue that growth in the Treasury and Trade Solutions business," Mr. Havens said.

"We thank Paul Galant for his contribution in developing GTS into an industry leader and innovator and wish him success in his new role," he added.

Prior to his current appointment, Mr. Vanni d'Archirafi was Global Head of Treasury and Trade Solutions and before that, Head of Global Transaction Services for Europe, Middle East and Africa, where he had responsibility for Cash Management, Trade Finance, Trade Services and the Securities and Fund Services businesses across the region. He has served in numerous leadership roles in his extensive career at Citi, beginning in 1983 when he joined the bank as a Management Associate in New York. After serving in many countries including Peru, the U.K. and Italy from 1984 to 1996, he returned to London as Global Co-Head of Mergers and Acquisitions for Citibank. In 1998, he was appointed the Market Manager for Iberia responsible for the Corporate Bank and customer relationships in Spain and Portugal and Country Corporate Officer of Citigroup for Spain, based in Madrid. In 2001, he was named Chairman and CEO of Citibank International plc and the European Customer Group Executive for Citigroup's Corporate Bank headquartered in London.

Mr. Vanni d'Archirafi graduated Magna Cum Laude from the American University in Washington DC with a B.S.B.A. degree in Finance. In 1983, he obtained an M.B.A. in Finance and International Business from Columbia University in New York City. Mr. Vanni d'Archirafi is the Chairman of Citibank Holdings Ireland Ltd and Citibank Europe plc. He serves on the boards of Mapfre America S.A., Clearstream International, LCH.Clearnet, Business in the Community. He is also a board member of Junior Achievement Worldwide, a member of its Board of Governors, and is the Chairman of Junior Achievement - Europe and the ENGAGE network.

Prior to his new appointment, Mr. Simpson led multiple global businesses within GTS including: Wholesale Card Services (Commercial Card, Prepaid/Stored Value), Public Sector Business Solutions, and Healthcare Solutions. Before joining Citi, he was a Managing Director in JPMorgan's Treasury and Securities Services Division where he was responsible for several businesses including: Trade & Logistics, Wholesale Card Services, Public Sector Business Solutions, and Healthcare.

Mr. Simpson received his educational degrees from Georgetown University (undergraduate) and NYU's Stern School (MBA). He also studied in Moscow at the Pushkin Institute. Mr. Simpson has served as a member of various industry-wide leadership organizations and editorial boards including: National Foreign Trade Council, SWIFT Trade Services Advisory Group, Trade and Forfaiting Review, and Global Trade Review.

Global Transaction Services provides award-winning Treasury and Trade Solutions, and Securities and Fund Services capabilities to corporations, governments, financial institutions and investment advisors worldwide. The business spans over 100 countries, processes over $3 trillion in payments daily, and handles more than one billion transactions annually. In 2008 the business grew its revenues from the previous year by 22% making $9.6 billion, and grew its net income by 34% at $3 billion. As of the 4th quarter of 2008, it held on average $292 billion in liability balances, and $10.7 trillion in assets under custody and trust.

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