Citigroup has appointed Carmen Haddad as chief executive officer (CEO) with responsibility for developing its business in Saudi Arabia, according to reports. The group is also said to be in advanced discussions with Saudi Arabia’s Capital Market Authority for an investment-banking licence to operate in the country. Citigroup lost a key banking licence when it sold its stake in Samba Financial Group in 2004.
Haddad leads Citigroup’s strategy and business development for the kingdom and her appointment as CEO for Saudi Arabia is expected to be made official once the group’s banking licence from the market regulator is confirmed. In the interim, she will continue in her role as CEO of Citigroup’s Qatar operations until a replacement is found and will also retain her position as a senior private banker in the Gulf Cooperation Council (GCC) region, Egypt and the Levant.
Pacific International Lines and the Port Authority of Singapore have signed a deal with IBM to work on proof-of-concept blockchain solutions
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The island was the first European Union jurisdiction to legislate allowing Protected Cell Companies back in 2001.
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