Citigroup strengthens its regional coverage in Middle East

David Ludlow will move to Dubai to become Head of Investment Banking for the Middle East with responsibility for clients in the Gulf. Mr. Ludlow has been with Citigroup since 1995 and has spent the last eight years covering clients in Eastern Europe. During his time in Central Europe, Mr. Ludlow has successfully completed a wide range of M&A, equity and fixed income transactions, including several landmark privatisations.

Guillaume Hannebelle will be relocating from Paris to Dubai to take up the position of Local Head of Distribution, Equities, Middle East. Mr Hannebelle will be responsible for co-ordinating marketing initiatives for Citigroup's key business platforms, including Cash, AE, Prime Brokerage and Equity Derivatives into the region. He will work in close collaboration with the respective product groups as well as the existing Middle East team based in London. The Equities Middle East Business Unit consists of representatives from across the Equities business and is responsible for marketing a comprehensive range of equity products in and out of the region.

Mr Hannebelle has been with Citigroup since 1992.Having previously led Citigroup's equity warrants team in France with great success, he has spent the last three years focused on European equity product sales to French institutions.

These two promotions follow the recent appointment of Mohsin Nathani as Chief Executive Officer and Managing Director for the Bahrain-based Citi Islamic Investment Bank (CIIB) and Head of Corporate Banking for the Middle East. Mr. Nathani was previously co-head of Debt Capital Markets in Asia Pacific, responsible for Citigroup's loan syndication business in that region. His capital markets and global fixed income experience will be instrumental in developing Islamic products within the context of Citigroup's overall debt solutions portfolio. At the same time, as Head of Corporate Banking, Mr Nathani will further strengthen Citigroup's Middle East business.

Michel Accad, Citigroup's Corporate and Investment Banking Head for the Middle East and North Africa Region, said: "The Middle East is an area of outstanding opportunity for Citigroup, given the region's impressive asset growth and the opening up of local markets. The significant investment banking potential in the Middle East and North African region calls for a dedicated team of senior investment bankers to cover the region in partnership with the existing Banking team on the ground. "

Sajjad Razvi, Citigroup Country Officer and Managing Director of Corporate and Investment Banking in the UAE said: "Corporate and Investment Banking in the Middle East as well as our Shari'a-compliant business have shown impressive growth and have significant potential for further development. In a global context these businesses are viewed by Citigroup as key strategic initiatives with the UAE seen as the major hub from which to fulfil our ambitions."