Citi Names Deven Somaya Regional Product Head of Wholesale Cards and Philip Glickman Regional Sales Head of Wholesale Cards for Asia Pacific

Hong Kong, Singapore - June 18, 2012Citi Transaction Services today announced the appointment of Deven Somaya to Regional Product Head of Wholesale Cards for Asia Pacific and Philip Glickman to Regional Sales Head of Wholesale Cards for Asia Pacific.

Based in Singapore, Deven Somaya is responsible for the product development of the overall Wholesale Cards business, encompassing Commercial and Prepaid Card products, across the region. Since 2006, Deven has been a key member of the business and instrumental in launching and expanding the Commercial Cards business to its current footprint of 12 countries. Deven joined Citi in New York in 2002 as a Management Associate and prior to joining the Cards business, had assignments in Trade Services, New Product Development and Sales, spanning across North America and Asia Pacific.

Philip Glickman, based in Hong Kong, is responsible for Business and Account Development for Citi’s Wholesale Cards business in Asia Pacific, where he manages a team of specialists based across the region. In addition, he oversees Procure-to-Pay and Working Capital applications as they relate to Commercial and Prepaid Cards. Philip joined Citi in New York in 1996 and held various business roles before moving to Hong Kong in 2004. His career at Citi has spanned the development of B2B and B2C initiatives and Debit and Prepaid applications, in addition to Ariba and mobile payments. Before joining Citi he worked in the Supply Chain Management field for the Eni Group and MSC, a leading shipping line.

Deven and Philip’s appointments reinforce an already robust and experienced team in Asia Pacific and are testament to Citi’s commitment to being a leading Wholesale Cards provider in the region. In the second half of 2012, Citi will further strengthen its market leadership with the launch of a proprietary platform in China to support commercial cards. Combining Citi’s global capabilities with local requirements, Citi’s China Cards Program will enable multinational companies to create a true global cards program with an unrivaled globally consistent solution – from user experience and product functionality to standardized reporting.

"Innovative card solutions can transform the way organizations manage payments, whether to suppliers, partners, employees or customers, and help them to create a critical competitive advantage in an increasingly globalized and digitized world. More companies are turning to Citi for assistance in this area and we continue to invest in our Wholesale Cards capabilities across the Asia Pacific region to provide clients with best-in-class, industry leading solutions." said Sridhar Kanthadai, Regional Head, Asia Pacific, Treasury and Trade Solutions, Citi Transaction Services.

Part of Citi Transaction Services, Citi’s Wholesale Cards business, with proprietary issuance capabilities in 100 countries, including local-currency programs in 65 countries, has long been considered a leading wholesale card provider to large and multi-national organizations globally. Citi’s Wholesale Cards’ products form the core of the expense management strategies for nearly 500 multinational corporations, making Citi a premier card issuer in terms of technology, innovation and volume.

About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.

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About Citi Transaction Services
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 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the first quarter of 2012, it held on average $377 billion in liability balances and $13 trillion in assets under custody.