Citi Expands Global Trade Business with Talent and Focus on Commodity Finance

New York, NY - September 6, 2012 – Citi expands its Global Trade franchise within its Transaction Services business with new hires, staffing changes and the implementation of a Global Commodity Finance platform.

Global trade continues to grow and Citi is gearing to support the industry’s accelerated growth. A core component is the creation of the commodity finance capability and the increased importance of the export agencies and multilaterals through agency-based loans. As transaction volumes increase, there is a greater need for new and innovative distribution strategies beyond the traditional banking sector.

Commodity Finance
Kris Van Broekhoven, joins Citi from Deutsche, as Global Head of Commodity Finance and will be responsible for driving Citi’s Trade Commodity Finance business on a global basis. Backed by his experience of arranging a large number of deals for commodity clients, he is uniquely qualified to establish Citi as a leading commodity trade finance bank. His initial area of focus will be the energy sector. Kris will be based in London, and will jointly report to Sam Sehgal, EMEA Trade Head and John Ahearn, Global Head of Trade.

Export and Agency Finance
In the Export and Agency Finance group headed by Valentino Gallo, Ae Kyong Chung, currently the Americas Head, has also been appointed the Global Head of Export and Agency Finance Distribution and will lead Citi’s implementation of a transformational, market-changing distribution model with alternative investors to support client growth strategies across all sectors.

To further expand the Export and Agency Finance business, Georges Romano has joined Citi as Regional Head of Export and Agency Finance for Latin America. Georges comes to Citi from Credit Agricole Corporate and Investment Bank where he was Head of the Project Finance Group for Latin America. Georges brings more than 15 years of experience in the arrangement of market and agency-based financing solutions for companies in the natural resources, power, and infrastructure sectors in North and South America.

John Ahearn, Citi’s Global Head of Trade said, “Citi is well-positioned to address the needs of our clients across the globe and we are confident this expansion of our expertise and market presence will help us to continue to deliver the end-to-end solutions our clients need.” Citi’s Global Trade business has enjoyed significant growth over the last few years.

Citi 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 second quarter of 2012, it held on average $396 billion in liability balances and over $12 trillion in assets under custody.


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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