Citi has appointed Francesco Vanni d'Archirafi as head of global transaction services (GTS), replacing Paul Galant, who has taken over at the bank's North American and international credit cards businesses.
The GTA unit provides treasury and trade systems, and securities and fund services capabilities to corporations, governments, financial institutions and investment advisors.
The business spans over 100 countries, processing over $3 trillion in payments daily and handling more than one billion transactions annually. In 2008 it reported revenues of $9.6 billion, 22% on the previous year to, with net income up 34% at $3 billion.
Vanni d'Archirafi - who will report to institutional clients group CEO John Havens - has been at Citi for over 25 years, most recently as global head of treasury and trade solutions.
Prior to this he was head of global transaction services for Emea, responsible for cash management, trade finance, trade services and the securities and fund services businesses across the region
Vanni d'Archirafi is also the chairman of Citibank Holdings Ireland and Citibank Europe.
He serves on the boards of Mapfre America, Clearstream International, LCH.Clearnet and Business in the Community.
Says Havens: "Francesco has done an outstanding job heading our treasury and trade solutions business for the past two years. As a 25 year veteran of Citi, we look to him to continue GTS' long established track record of excellence driven by innovation, client service and financial performance across treasury, trade, securities and fund services."
Vanni d'Archirafi's old position at treasury and trade solutions will be filled by Paul Simpson. Simpson had previously led multiple global businesses within GTS, including wholesale card services, public sector business and healthcare solutions.
Before joining Citi, he was a managing director in JPMorgan's treasury and securities services division.