Citi announced that veteran banker Karim Tannir will become the Middle East and Africa (MEA) Cluster and Banking Head, a position that will be effective in August 2026. He will succeed Ebru Pakcan, who is moving to the role of Chief Operating Officer for International and Legacy Franchises.
Tannir brings more than 30 years of experience in the Middle East, North Africa and Turkey. Prior to joining Citi, he served as Head of Banking for the Middle East, North Africa and Turkey at HSBC and held senior leadership roles at J.P. Morgan, including Vice Chairman for EMEA. He has advised on high‑profile transactions such as the Saudi Aramco IPO.
The new role will oversee Citi’s operations in 59 markets across the MEA region. Based in Dubai, Tannir will focus on client strategy, franchise growth and regulator engagement, building on Citi’s broader effort to strengthen its international franchise and expand cross‑border capabilities.
Citi’s strategy includes concentrating on core businesses, divesting non‑core consumer operations, and establishing regional hubs in Riyadh and the UAE. The appointment signals the bank’s continued commitment to the MEA region, which remains a key growth area and a critical part of its global network.
Ernesto Torres Cantú said the appointment “strengthens Citi’s international franchise and that Tannir’s relationships and regional insight will help grow responsibly while maintaining risk controls.” Vis Raghavan added that the region’s franchise “continues to perform with momentum” and that Citi remains committed to the Middle East long term.
The move reflects Citi’s intent to leverage Tannir’s expertise to navigate regulatory and market dynamics in the region, while Pakcan’s transition to COO will streamline operations across international franchises.
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