Citigroup names Saudi Arabia CEO as it plans return

Dubai

CITIGROUP Inc appointed Carmen Haddad to rebuild its Saudi Arabian business more than 10 years after losing a key banking licence in the kingdom, according to people familiar with the matter.

Ms Haddad is leading Citigroup's strategy and business development for the kingdom, where the New York-based bank doesn't have a local presence, said the people, asking not to be identified because the appointment hasn't been made public. She's also set to become the lender's chief executive officer in Saudi Arabia once it gets a banking licence from the market regulator, the people said.