London – Citi has announced the appointment of Peadar MacCanna and Murat Demirel as Trade Co-Heads for its Treasury and Trade Solutions (TTS) business in EMEA. Based in London, Peadar and Murat will report to Ebru Pakcan, EMEA head of TTS, and John Ahearn, global trade head, TTS.
In the newly created role, Peadar and Murat will have joint ownership and responsibility of the trade business for the region. The revised structure will allow them to maximize their time to develop product capabilities, client propositions, whilst driving the trade agenda for the business. Peadar will lead trade services and transactional flows, while Murat will be responsible for trade finance and structured solutions. They will join the TTS EMEA Executive Committee (ExCo) as well as the TTS trade global ExCo.
Ebru Pakcan, EMEA head, TTS commented: “Given the size and scope of the trade product set in the region, and considering the diverse nature of the EMEA markets, we decided that by establishing a new leadership structure, we will be able to ensure that every aspect of our trade business is managed to the highest standard. The combination of Peadar and Murat’s experience within Citi as well as the industry more generally, will provide the perfect balance for leading this business going forward.”
John Ahearn, global trade head, TTS commented: “Our trade business represents a core pillar of TTS both within EMEA and globally. To fully leverage Citi’s global footprint and to maintain Citi’s leading position in the industry requires strong management oversight of a broad range of funded and unfunded trade products and solutions. I look forward to working with Peadar and Murat as we continue to grow our trade business globally.”
Citi’s trade platform incorporates working capital and supply chain management, trade services (including specialized trade programs) and export and agency finance products, which work to create end-to-end solutions ranging from short- and medium-term financing to complex structured trade models.
Peadar joined Citi in 1997 and held a number of roles in funds accounting and securities services before he joined Trade in 2003 to run the Insurance LOC business and establish the Citibank Europe plc platform. Most recently, Peadar was EMEA Head of Trade Finance based in Dublin as well as Head of Trade business for Europe and Citibank Europe plc.
Murat rejoins Citi from Oger Telecom Limited where he was chief financial officer since 2013, based in Istanbul. Prior to this, Murat served at Citi as Head of Corporate Finance for CEE and Turkey and before that as the head of corporate investment banking in Turkey. He has held multiple other roles in a number of different locations including head of loan syndications for CEEMEA in London during a 19 year career at Citi.