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Citigroup Inc. Shakes Up Its Asian, European Leadership: appointed Stephen Bird, Shirish Apte, Shengman Zhang, Bill Mills and Alberto Verme

By Amarendra Bhushan for CEOWORLD Magazine Updated:July 6, 2009

Citigroup Inc. appointed Stephen Bird and Shirish Apte as Asia-Pacific chief executives, and named Shengman Zhang as Chairman of Asia Pacific, sharing the job vacated by 13-year veteran Ajay Banga when he left for MasterCard Inc. late last month.

In addition, Bill Mills and Alberto Verme was appointed as chief executive officers of Europe, Middle East and Africa, or EMEA.

In Asia Pacific, Zhang will be responsible for forging and expanding relationships with clients, regulators, government officials and employees across the region.

As CEOs, Bird will oversee operations in Northern Asia including Japan, China, and Korea, and Apte for Southern Asia including Australia, India, and Singapore, while both will have joint responsibilities for Asia Pacific’s overall performance, strategy and execution

Citigroup’s Asia unit accounted for about 30 percent of its $52.8 billion revenues in 2008, the company said.

Mr. Shengman Zhang, 52, had previously served as Vice Chairman of Global Banking and President of Asia Pacific after joining Citi in February 2006 as Vice Chairman of Global Banking and Chairman of the Public Sector Group. He possesses extensive experience in the industry, including 10 years with the World Bank, with four as the Managing Director from 2001 to 2005. In that role, he led the Bank’s day-to-day worldwide operations. Mr. Zhang chaired the Bank’s Operations Committee, the Sanctions Committee, and the Corporate Committee on Fraud and Corruption Policy, and was the Chairman of the Bank Group’s Crisis Management Committee.

Mr. Stephen Bird, 42, was most recently Chief Executive Officer for North Asia and Head of Consumer Banking and Global Cards for Asia Pacific. He joined Citi in 1998 and has previously served in Japan as CEO for Credit Cards and Consumer Finance, and as Head of Operations and Technology for the entire Latin America franchise having moved there from Asia Pacific in 2001. Prior to joining Citi, Mr. Bird held senior management positions in GE Capital and British Steel in the United Kingdom.

Mr. Shirish Apte, 56, moves to Asia Pacific after guiding Citi in some of the fastest-growing emerging markets as Chief Executive Officer of Citi’s Central & Eastern European Region. Mr. Apte has served in several senior management roles in more than 26 years with Citi, including as CEO of Central & Eastern Europe, Middle East & Africa (CEEMEA) Citi Markets & Banking. He began his career with Citi as a Relationship Banker for Citibank India, and later held various assignments in Corporate Banking, Risk Management and Corporate Finance Investment Banking.

Mr. Bill Mills, 53, was most recently CEO for Western Europe, Middle East and Africa. He previously held the position of Chairman and Chief Executive Officer of Citi Markets & Banking for Europe, Middle East and Africa (EMEA). Prior to that, he was Chief Executive Officer of Salomon Smith Barney Asia Pacific and a member of the Salomon Smith Barney Management Committee. In this role, he was responsible for the Firm’s Investment Banking, Equity, Fixed Income, Private Client services, and other operations conducted in Asia, Australia, New Zealand, and the Sub-Continent for the Firm. Mr. Mills has been with Citi for 27 years.

Mr. Alberto Verme, 51, was most recently Co-Head of Global Investment Banking, based in Dubai. Prior to that appointment in 2008, he was Head of Global Energy, Power and Chemicals Investment Banking from 2001. During his tenure, the franchise achieved world leadership and executed a number of marquee transactions including the Conoco-Phillips merger, the Sibneft-Yukos merger and several key restructurings. Mr. Verme joined Salomon Brothers in 1994 and worked as Head and later Chairman of Citi’s Latin America Investment Banking Group through May 2001.

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