Citi names new CTS chief

MANILA, Philippines - Citi has appointed Amol Gupte as Citi Transaction Services (CTS) head for the Asia Pacific region. Amol will be based in Hong Kong and will report to Rodrigo Zorrilla, Citi chief operating officer for Asia Pacific and Francesco Vanni d’Archirafi, CTS chief executive officer. Citi Transaction Services offers integrated treasury and trade solutions and securities and fund services to multinational corporations, financial institutions and the public sector around the world. Leveraging the industry’s largest proprietary network, spanning over 95 countries, Citi is well positioned to help companies with their local and international cash management needs in Asia Pacific. In 2011 Citi Asia Pacific Transaction Services was the largest regional contributor to the bank’s CTS business globally, reporting revenues of $2.9 billion and net income of $1.2 billion. In the first quarter of 2012 Citi Transaction Services reported revenue up eight percent to $757 million and net income of $302 million, up seven percent.