Citi has appointed Andrew Gelb the new Head of North America Treasury and Trade Solutions. Andrew succeeds Amol Gupte who has been named Asia Pacific Region Head for Citi Transaction Services. Andrew will be based in New York.
Andrew has worked in Citi's transaction banking business for nearly 15 years in locations including London, New York and Tokyo. His most recent position was Regional Head of Citi's Securities and Fund Services (SFS) business for Europe, Middle East and Africa where he successfully executed a broad strategy to grow the franchise across the EMEA region. Prior to this, Andrew was located in New York where he was the Global Head of SFS Intermediary Services (Direct Custody & Clearing), the industry's leading Direct Custody business with a 50+ country network. Also in New York, Andrew held the position of Head of Strategy and Planning for Transaction Services. Prior to this, Andrew held several different positions at Citigroup Japan, including Cash Management Head, and has also worked in other locations across Citi's network.
"Andrew's international background and broad experience across the transaction banking business will be great assets as we continue to build on our reputation for product innovation and craft targeted solutions for our corporate, institutional and public sector clients," said Julie Monaco, North America Region Head and Global Head of Banks, Public Sector and Marketing for Citi Transaction Services.
"The North America Region represents a tremendous opportunity for our TTS Franchise," said Naveed Sultan, Global Head of Treasury and Trade Solutions. "Andrew's extensive international experience will allow him to bring our globality to our clients to service their financial and commercial flows in and out of North America."
Andrew has also served as a Director on the Board of EuroCCP, a pan-European securities clearing firm, as well as on the Clearstream International Advisory Board.
Citi Treasury and Trade Solutions, a business unit of Citi Transaction Services, provides integrated cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. It offers the industry's most comprehensive suite of treasury and trade solutions including cash management, payments, receivables, liquidity management and investment services, working capital solutions, commercial and prepaid card programs, trade finance and services.
Citi Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi's Transaction Services supports over 65,000 clients. As of the second quarter of 2012, it held on average $396 billion in liability balances and over $12 trillion in assets under custody.