Citi has named Shahmir Khaliq as its new head of Treasury and Trade Solutions (TTS), according to an internal memo from Paco Ybarra, global head of Citi’s Institutional Clients Group (ICG), which noted that the appointment is effective immediately.
During his career at Citi, Khaliq has served in management positions in banking, markets and securities services, country management (CCO) and treasury services. Prior to his appointment as global head of TTS, Khaliq served as head of operations and technology for TTS. Before taking that role, Khaliq had served as global head of Direct Custody & Clearing inside of Markets and Securities Services since 2017.
Khaliq joined Citibank in 1991 in Pakistan as a management associate in the institutional bank before leaving in 1993 for his post-graduate education. He rejoined Citi Pakistan (Banking) in 1995.
Khaliq holds degrees in finance and economics from the London Business School and London School of Economics. He also has a master’s of business administration from the University of Karachi.
“[Khaliq’s] experience gives him a unique ability to understand our clients’ needs and to drive investment in our infrastructure and our network to ensure that we can continue to help them sustain their operations, manage their supply and distribution chains and optimize their working capital and liquidity. He will help improve our core product capabilities and rethink how we interact with clients from a coverage, sales and service perspective to deliver a continuously improving client experience,” Ybarra said in the memo.
TTS, which had been led by Naveed Sultan, offers cash management and trade finance services to multinational firms, public sector organizations and financial institutions throughout the world.
Sultan will head up the firm’s efforts to advise governments and other clients on digitization in a new position as ICG chairman, according to an October internal memo. He will be in charge of developing a new “digital policy, strategy and advisory practice” that will consult with governments aiming to digitize their economies and financial systems, among other tasks.