Citigroup has named Ebru Pakcan as head of its emerging markets business in Europe, another step in its goal to having half all country leadership roles occupied by women.
Pakcan will replace 37-year bank veteran Atiq Rehman, who announced his decision to retire in March, according to an internal memo seen by Financial News. She will lead Citi’s so-called emerging markets cluster in Europe, the Middle East and Africa, a unit created in 2019 to cover regions such as the Middle East, North Africa, Sub-Saharan Africa and some Eastern European countries.
Citigroup is aiming for half of its country business heads to be occupied by women, up from the current rate of 29%, and has often promoted internally to fill vacant positions.
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Pakcan will work alongside Kristine Braden, who leads Citi’s post-Brexit hub covering Europe from Frankfurt. She will report into David Livingstone, the bank’s chief executive in Emea.
“Ebru and the team are charged with fully harnessing the potential within the business, including our network, the vast experience of our teams, our coverage and product capabilities, and the ability to deploy local balance sheets for the benefit of our clients,” said Livingstone in the memo.
Pakcan was previously global head of trade at Citigroup, a role she took up in March last year.
Steve Elms, global head of trade sales, and Adoniro Cestari Neto, global head of trade product management, will become global co-heads of trade.
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