Citigroup makes Istanbul the management base for 60 countries


Citigroup has given the CEO of its Turkey branch Serra Akçaoğlu presiding responsibility over 60 countries across Europe, the Middle East and North Africa (MENA) region where the company currently has no branches in place.Citigroup, which operates in 100 countries around the world and 55 countries in Europe, the Middle East and Africa Market (EMEA) assigned Citibank Turkey CEO Serra Akçaoğlu to 60 countries where the company has no physical branches or subsidiaries but offers corporate banking services to customers. The move marks the first time that a Turkey corporate executive has been assigned to a regional post. CEO Akçaoğlu will also continue to be a member of the EMEA board committee.Citibank Turkey General Manager told Turkish daily Dünya that Citi believes in the potential for development in these 60 countries in the coming period, adding that most of these countries are more likely to be the "developing country"candidates of the future and emphasizing that Citigroup is already investing in these countries.Earning the first title for women in the sector and the first title for a Turkish general manager of Citigroup, Akçaoğlu said that taking on her first duties as regional director will include efforts to increase trade and investment potential between Turkey and the said countries in the region.As Istanbul becomes the regional management base for Citi for the first time, Akçaoğlu, as the head of EMEA for the countries with no Citi branches, will lead the managers responsible for 60 markets. Serra Akçaoğlu said they have been conducting projects for public institutions, banks and large investors in these countries, noting that they are investigating synergies that they have the potential to create between Turkish customers and 60 countries, saying that managers of the region will also meet with big investors and bring them to Turkey.Explaining that she would like to bring a number of financial solution proposals successfully implemented in Turkey to the said countries, Akçaoğlu said that in terms of the supply chain and foreign trade, Turkey offers solutions that can be exemplified: "We also use PTT branches in Turkey like our own branches. We have real time, online connections. We will see if we can apply the same model in those countries," Akçaoğlu said, highlighting that they want to strengthen relations with the local banks in the MENA region.Turkey's Akçaoğlu will preside over Citigroup banks in the following countries of the MENA region: Afghanistan, Azerbaijan, Iceland, Croatia, Kyrgyzstan, Lithuania, Slovenia, Belarus, South Sudan, Turkmenistan, Macedonia, Uzbekistan, Serbia, the Vatican, the Central African Republic, Malta, Moldavia, Libya, Georgia, Bosnia, Oman, Albania , Palestine, Estonia, Ethiopia, Andorra, Benin, Botswana, Burundi, Burkina, Cape Verde, Cha, Madagascar, the Congo, Djibouti, Eritrea, Gibraltar, Guernsey, Guinea, Isle of Man, Latvia, Lesotho, Liechtenstein, Liberia, Malawi, Mauritania, Mali, Montenegro, Namibia, Nigeria, Rwanda, San Marino, Sierra Leone, Sao Tome and Principe, Swaziland and Togo.Operating in more than 100 countries around the world, Citi offers retail banking services in 19 countries. Founded in 1812, the bank is headquartered in New York and it has been operating in Turkey since 1975.