Citi has promoted Ebru Pakcan to head up its treasury and trade solutions business in Europe, the Middle East and Africa (EMEA).
Pakcan, who joined Citigroup 19 years ago as an IT project manager, takes over the role from Rajesh Mehta, who was recently named Regional Head of TTS for Asia-Pacific.
Pakcan will report to Jim Cowles, EMEA CEO, and Naveed Sultan, Global Head of TTS, and will be responsible for leading and developing the EMEA TTS franchise and driving business throughout the region.
TTS provides services such as cash management and trade finance for institutional clients in over 120 countries and is both fundamental and strategic to Citi’s business model, having reported growth in revenues for 11 consecutive quarters.
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Pakcan will play an instrumental role in the continued growth of the EMEA franchise.
Commenting on Pakcan’s promotion, Naveed Sultan, Global Head TTS, said: “The TTS business is one that continues to show growth in revenue and operating margin on a year-over-year basis and it is essential that we focus on ensuring that this trend continues. With Ebru’s deep understanding of the business itself, as well as her experience and knowledge of the industry as a whole, she will play an instrumental role to the continued growth of the EMEA franchise.”
Prior to her new role, Pakcan was Global Head of TTS Payments and Receivables, firstly based in New York and more recently in London. After joining Citi in 1997 as an IT Project Manager in Turkey, she was appointed Head of IT Project Management for the country in 1999.
In 2000, Pakcan’s role expanded to include Operations & Technology projects for Turkey, becoming Head of Custody and Clearing for Global Transaction Services in 2001.
In 2004, Pakcan became GTS EMEA Head of Cash Management Implementation prior to being appointed EMEA Head of Payments in 2008.