Veteran Citi govt Naveed Sultan will lead the monetary large’s efforts to advise governments and different purchasers on digitization in a brand new function as chairman of its Institutional Clients Group, the financial institution introduced in an inner memo on Thursday (Oct. 29).
Sultan will probably be in command of constructing a brand new “digital policy, strategy and advisory practice” that can seek the advice of with governments occupied with digitizing their economies and monetary programs, amongst different duties, the memo states.
The rising international digital economic system is an space wherein Sultan is well-versed, having “led several pioneering initiatives, including Digital Money Index and the Centre for Global Finance and Technology with Imperial College,” Citi ICG Chief Executive Officer Paco Ybarra mentioned within the memo.
Sultan has served for the final 9 years as international head of Citi’s Treasury and Trade Solutions, or TTS, which he’ll proceed to run till a alternative is discovered.
In explaining Sultan’s new function because the financial institution’s prime govt in advising overseas governments and different purchasers on digitization, Ybarra mentioned it’s “critical” that Citi “develops a strategic, coherent and holistic approach” within the rising sector.
Sultan’s job will probably be to “advise our clients and other constituencies, including policymakers, and provide them [with] actionable insights to respond to this phenomenon,” Ybarra wrote.
“This new practice will advise governments to develop policies to digitize their economies, including their financial systems,” Ybarra said. “It will also provide guidance and thought leadership to corporates and financial institutions to transform their businesses and operating models to stay relevant in an increasingly digital world.”
Sultan additionally received reward for his work overseeing Citi’s Treasury and Trade Solutions, with TTS, underneath Sultan’s “stewardship,” having “grown into a world-class franchise as recognized by our clients, investors and financial services industry for its innovation, sustained financial performance and thought leadership,” in accordance with Ybarra.
In his new put up at Citi’s ICG, Sultan additionally takes a number one function in serving to the financial institution in its “senior interactions with sovereigns,” with a concentrate on rising markets because the financial institution appears to be like to strengthen relationships and “create commercial opportunities,” the memo states.