Bank Restructures Regions
In a major reorganisation of its structure Citibank has changed the way it works in the Asian Pacific region of the world, placing more responsibility in the hands of selected executives.
Since his appointment last year the new Chief Executive has made a number of changes to Citibank in a bid to help pull the troubled bank out of the difficulties it has faced following the sub prime mortgage problems experienced in the USA.
This new organisation in the Asian Pacific area sees four people heading up their own sub-regions and taking responsibility for all of the different products sold there. This should lead to a more effective and profitable situation in these markets, something Citibank desperately needs.