Citi has named former global head of trade risk James Fraser as head of trade within its treasury and trade solutions (TTS) division, North America. Additionally, Sébastien Delasnerie is the newly-appointed head of commercial cards within TTS. Both moves are internal appointments.
Both will report to Mike Fossaceca, Citi’s North America head of TTS, with Fraser also reporting to John Ahearn, global head of trade, and Delasnerie to Gonca Latif-Schmitt, global head of commercial cards.
Having joined Citi in 2003, Fraser has held senior positions across the bank, including as a senior banker in New York and London for five years. As global head of trade risk between 2015 and 2018, he was in charge of trade finance, trade services, export agency finance and commodities within TTS.
Delasnerie joined the bank in 1997 and moved to TTS in 2007, initially holding roles in trade sales, before becoming the trade finance product head, and then the North America trade head in 2014. In his new position, he oversees the commercial cards business, providing travel, purchase and virtual cards solutions to institutional clients, including financial institutions.
Fossaceca says of the new appointments: “Both Sébastien and James bring tremendous experience to the region and will help our business capture new flows, leverage innovative technologies and commercialise our new products and solutions. The trade and commercial card businesses are rapidly changing and both James and Sébastien are ideal choices to lead these businesses into the future.”