Citi has appointed Peadar MacCanna and Murat Demirel as co-heads of trade for its treasury and trade solutions (TTS) business in the Emea region.

MacCanna and Demirel will have joint responsibility for Citi’s trade business in the region, in the newly created roles. MacCanna (pictured) will lead trade services and transactional flows, while Demirel will be in charge of trade finance and structured solutions.

They will be based in London and report to Ebru Pakcan, Emea head of TTS, and John Ahearn, global trade head, TTS.

MacCanna moves from Dublin where he was most recently the bank’s Emea head of trade finance and head of trade business for Citibank Europe. He joined Citi in 1997 and has since held a number of roles in funds accounting and securities services before joining the trade business in 2003.

Demirel rejoins Citi from Oger Telecom, where he since 2013 was the company’s chief financial officer, based in Istanbul. He previously worked at Citi for 19 years, most recently as the bank’s head of corporate finance for Central and Eastern Europe and Turkey.

The bank says in a statement the revised structure will allow MacCanna and Demirel “to maximize their time to develop product capabilities, client propositions, whilst driving the trade agenda for the business”.

Commenting on the appointments, Pakcan says: “Given the size and scope of the trade product set in the region, and considering the diverse nature of the Emea markets, we decided that by establishing a new leadership structure, we will be able to ensure that every aspect of our trade business is managed to the highest standard. The combination of Peadar and Murat’s experience within Citi as well as the industry more generally, will provide the perfect balance for leading this business going forward.”

MacCanna and Demirel will join the bank’s executive committees for TTS Emea and TTS trade global.