Citi has promoted Shahmir Khaliq to the role of global head of treasury and trade solutions (TTS) in its institutional clients group (ICG).

He replaces Naveed Sultan, who served as global head of TTS for more than eight years, and recently took on the position of Citi’s ICG chairman.

Khaliq joined Citi in 1991 in Pakistan as a management associate. He left the bank two years later and returned in 1995. Since then, he has held several executive roles at the bank and, prior to his new job, was serving as global head of operations and technology for TTS.

In his new position, Khaliq will be tasked with leading the global TTS team out of New York. Citi’s TTS unit provides tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organisations across the globe.

Paco Ybarra, Citi’s ICG CEO, notes in an internal memo that Khaliq’s experience “gives him a unique ability to understand our clients’ needs and to drive investment in our infrastructure and our network to ensure that we can continue to help them sustain their operations, manage their supply and distribution chains and optimise their working capital and liquidity”.

“He will help improve our core product capabilities and rethink how we interact with clients from a coverage, sales and service perspective to deliver a continuously improving client experience,” it reads.

Last year, Citi made a number of changes to its TTS team, appointing several new regional TTS heads. Ebru Pakcan was also named as global head of trade for TTS, replacing industry veteran John Ahearn, who was set to retire. A few months later, Ahearn joined Falcon Group, a provider of inventory management solutions, as its Americas CEO and group vice-chairman.