Citi's UK CEO Promoted in European Shake-Up -- Financial News

By Paul Clarke

Of Financial News

Citigroup Inc. (C) has handed more responsibility to James Bardrick, its U.K. chief executive, as part of a shake-up of its European investment bank.

Under the plans, Citi's operations covering the European Union aside from the U.K. will be brought together into a "single cluster," according to an internal memo seen by Financial News.

The U.K. business has a more separate status, with Mr. Bardrick now reporting directly to David Livingstone, the bank's recently appointed European chief executive.

The shift "reflects the importance of the U.K. as a standalone market [and] the opportunities that will be presented by the U.K. altering its trading and commercial arrangements with the EU," Mr. Livingstone said in the memo.

Mr. Bardrick has been handed responsibility for Citi's operations in Israel--a move aimed at increasing ties with the U.K. on "technology and digital disruption."

Citigroup also promoted its current head of the Middle East and Africa, Atiq Rehman, to a role leading a new emerging markets division for Europe, the Middle East and Africa.

Grant Carson, head of its EMEA global subsidiaries group, which provides corporate banking to large multinational companies, will head up its Turkey, Russia, Ukraine and Kazakhstan operations. He will be succeeded by Serra Akcaoglu, who currently leads its Turkey office.

Website: www.fnlondon.com

(END) Dow Jones Newswires

September 10, 2019 10:40 ET (14:40 GMT)

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