Inside Citigroup’s plans for emerging markets domination | All hands to the pump in Latin America | Citigroup still looking for more from Asia | Druskin aims to seize the initiative
Arguably Citigroup’s most diverse region, CEEMEA encompasses central and eastern Europe, the Middle East and Africa and Turkey. The region is broken into five divisions: Russia/CIS; central and eastern Europe (though Poland, where Citigroup owns Bank Handlowy is separate); Africa (meaning sub-Saharan Africa down to South Africa); the Middle East and north Africa; and Turkey and Israel.
The bank has executed a number of successful transactions in recent years, including several for Polish telecom TPSA. The bank is also strong in the Middle East – a region that is unique, according to Shirish Apte, chief executive for CEEMEA within the corporate and investment bank.
| Shirish Apte: late to start in equities, but trying to play catch-up |
“By and large, the other developing regions are absorbers of investment capital. The Middle East is both an absorber and a generator of investment capital,” he says. This is creating opportunities in project finance, M&A advisory, acquisition finance, as well as the capital markets.