Citi has appointed Mark Smith as head of treasury and trade solutions (TTS) for Emea, effective immediately.

Based in London, he takes over from Ebru Pakcan, who in February replaced John Ahearn as global head of trade.

Reporting jointly to Naveed Sultan, global head of TTS and David Livingstone, CEO of the bank’s Emea business, Smith will be responsible for leading the continued growth of Citi’s business in its largest region, working to increase its competitiveness and deliver innovation in payment, cash management and trade financing to meet the evolving needs of the bank’s clients.

Smith has held several senior posts over 22 years at Citi, most recently as global head of liquidity management for TTS, with responsibility for managing over 50% of the bank’s deposit base. His experience also includes a stint as regional treasurer for Citi Emea, as well as a variety of roles in Citi’s markets business, both in New York and in London.

Citi says that Smith will continue with his responsibilities as global head of liquidity management for TTS until a successor is appointed, and will begin the search for his replacement “shortly”.