Published: September 28, 2009
Citi has appointed Steve Donovan as head of global transaction services for the Middle East and Pakistan. He will be based in Dubai.
Until recently, Donovan led the Europe, Middle East and Africa sales organisation for treasury and trade solutions, which comprises over 50 countries. Before joining Citi in 2007, he served in a number of senior roles at JP Morgan Chase, most recently as corporate sales executive for EMEA, Asia Pacific and US outbound business.
Alongside Donovan’s appointment, Richard Street has been appointed as head of securities and fund services, Middle East and Jason James as product head of issuer services in the Middle East and North Africa (MENA) – both based in Dubai and reporting to Donovan.
Citi has been particularly active in the Middle East during the past year. In January 2009, the bank has launched its direct custody and clearing operations to three UAE markets, and has announced its fund services to the Bahrain Regulated Funds in July 2008.
In addition, Citi launched its issuer services business in the Middle East in April, providing on-shore agency and trust capabilities to clients in the Middle East. The bank is present in 11 Middle Eastern countries: Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar, Pakistan and Kuwait.