Citigroup names Mohammed Al-Shroogi Head of Corporate and Investment Banking in the Middle East and Country Officer for the UAE

In his new role, Al-Shroogi will oversee Citigroup's growing business in the Gulf and Levant countries, including the UAE, Bahrain Kuwait, Lebanon and Jordan. In addition, Mr. Al-Shroogi will be responsible for Citigroup's existing and future business with Iraq, Saudi Arabia and the other Gulf countries.

Al-Shroogi is a seasoned Citibanker with an illustrious career spanning thirty years at the bank. Up until his new assignment, Al-Shroogi has held the responsibilities of CCO in Bahrain and Managing Director for the Middle East. In addition, he is the Chairman of Citi Islamic Investment Bank (CIIB), based in Bahrain.

Al-Shroogi established Citibank Bahrain Treasury as a major dealing room, strategically located between Asia and Europe, and established the Offshore Booking Unit of Citigroup based in Bahrain. He is perhaps best known for building and nurturing a wide network of strategic Business relationships for Citigroup in the Middle East, spanning key Regulators, Central Banks, Financial Institutions, Corporates and Senior Government officials.

Commenting on his expanded role, Al-Shroogi said,

"I am delighted to work in the UAE with a great team of professionals and to run a mature business that has been steadily built over the past four decades. 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. Together with the regional team, we will continue to provide the highest standards of banking service to our clients in the region and to fulfill our role as a pioneer in the region's financial industry.'

Citigroup has been present in the Arab World for nearly fifty years and continues to view the region as critical to its global franchise. It is currently present in nine Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain and Kuwait. It also serves clients in non-presence countries, such as Saudi Arabia, Yemen, Qatar and Oman through Bahrain.