Reuters: Private Equity: UPDATE 1-Citi appoints Lodhi as CEO for Pakistan - sources

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Citi appoints Lodhi as CEO for Pakistan - sources Apr 22nd 2012, 14:00 Sun Apr 22, 2012 10:00am EDT DUBAI, April 22 (Reuters) - Citigroup Inc has appointed Nadeem Lodhi as chief executive officer for its Pakistan business and the U.S. banking giant plans to focus more on corporate banking in the country, two sources aware of the matter said. Lodhi, who joins Citi from Dubai-based private equity firm Abraaj Capital, will mainly focus on growing the bank's corporate and investment banking business. At Abraaj, he managed the firm's business in sub-Saharan Africa. A spokesman for Citi in Dubai declined to comment. And Abraaj spokesperson was not immediately avaiolable for comment. Citi established its presence in Pakistan in 1961 and operates in Islamabad, Lahore and Karachi. The bank lead-managed the last three consecutive international sovereign bond issues. The bank, which has 11 branches in Pakistan, is also looking at consolidating its business across the country, one of th sources said. "The bank is considering various options for its retail business in Pakistan and may consolidate branches into six from the current 11," the source said. A potential exit of Citi's retail banking in Pakistan follows HSBC's announcement earlier this month that it plans to sell its retail operations in the country. (Reporting By Mirna Sleiman; Editing by Dinesh Nair)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions