Citi Names New International Leaders
Zhang, Bird and Apte become Asia-Pacific business heads, while Mills and Verme assume EMEA duties.
July 6, 2009
Citigroup appointed new leaders for its businesses in the Asia-Pacific region as well as Europe, the Middle East and Africa. The firm named Shengman Zhang as chairman of Asia-Pacific, Stephen Bird and Shirish Apte as co-chief executives of Asia-Pacific, and Bill Mills and Alberto Verme as co-CEOs of EMEA.
All the appointments are effective immediately.
Zhang, 52, will be responsible for creating and expanding client, regulator, government and employee relationships in the Asia-Pacific region. He was previously vice chairman of global banking and Asia-Pacific president. Zhang joined Citi in February 2006 as vice chairman of global banking and chairman of the public sector group from the World Bank, where he was the managing director from 2001-2005.
Bird, 42, will be responsible for Northern Asia, while Apte, 56, will oversee Southern Asia. Bird was most recently Citi's CEO for North Asia and head of Asia-Pacific consumer banking and global credit cards. He joined Citi in 1998. Apte was previously Citi's CEO for Central and Eastern Europe and has spent 26 years with the firm. News emerged that Ajay Banga, Citi's previous Asia-Pacific CEO, would depart in order to become president and chief operating officer of MasterCard last month.
Mills, 53, was most recently CEO for Western Europe, the Middle East and Africa, having previously been chairman and CEO of EMEA for Citi Markets & Banking. Verme, 51, was most recently co-head of global investment banking and had previously been head of global energy, power and chemicals banking for seven years. Verme was relocated from London to Dubai in May 2008. Mills will continue to be responsible for Western Europe and Africa, while Verme will still oversee Central and Eastern Europe and the Middle East.
"In each of the 104 countries where we operate and the dozens more where we do business, our clients and customers deeply value our unique capabilities and global perspectives," said Citi CEO Vikram Pandit in a press release. "In appointing these talented executives to drive our business in Asia and EMEA, I am reaffirming Citi's commitment to these markets and to helping our clients and customers execute on growth opportunities around the world."
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