30th October 2020

Citi Appoints new chairman of Institutional Clients Group

We have recently learned Naveed Sultan has been appointed chairman of Citi's Institutional Clients Group (ICG).

As Chairman, Sultan will build and lead a new Digital Policy, Strategy and Advisory practice across all client segments. Recognizing the changes shaping the world through the advent of current and emerging technologies, Citi deem it critical that the bank develops a strategic, coherent and holistic approach to advise its clients and other constituencies including policymakers, and provide them actionable insights to respond to this phenomenon. This new practice will advise governments to develop policies to digitize their economies including their financial systems. It will also provide guidance and thought leadership to corporates and financial institutions to transform their businesses and operating models to stay relevant in an increasingly digital world.

Citi's global network, particularly in the emerging markets, is a key differentiator. As part of his new role, Sultan will help the firm in its senior interactions with sovereigns, with a particular focus on emerging markets, to help strengthen relationships and to create commercial opportunities. He will work with Paco Ybarra, CEO of ICG, Citi, and the regional CEOs and business heads to develop approaches and strategies to respond to the structural shifts of globalization and market transitions and ensure the bank’s network remains well-positioned to build a structural advantage.

Sultan is uniquely qualified to lead this new effort. Under his stewardship, Citi's TTS business has grown into a world-class franchise as recognized by its clients, investors, and financial services industry for its innovation, sustained financial performance and thought leadership. He has extensive experience having served in roles with strategic, business management and operating responsibilities at a global level and across several geographies, and has developed diverse functional experience across corporate finance, banking, operations and technology, consumer products and transaction banking. He has also led several pioneering initiatives including Digital Money Index and the Centre for Global Finance and Technology with Imperial College.

Sultan will continue in his role as Head of TTS until the new head is appointed. He will ensure a smooth transition and will also continue to engage closely with TTS to provide support and guidance on strategy, execution, and clients.

TMI News Desk – 30th October 2020

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