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Citigroup Names Zorrilla COO for Asia in Management Shuffle

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Feb. 8 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank by assets, named Rodrigo Zorrilla chief operating officer for Asia-Pacific as part of a management shuffle under a single chief for the region.

Anthony Nappi was appointed chief administrative officer, according to a company memo obtained by Bloomberg News today. Michael Zink was put in charge of the Association of Southeast Asian Nations area. James Griffiths, a Hong Kong-based spokesman for Citigroup, confirmed the contents of the document.

The moves follow the appointment of Stephen Bird as sole chief executive officer for the bank’s Asia Pacific operations at the start of the year, a position he previously shared. New York-based Citigroup is expanding operations in the region, this week becoming the second foreign bank to be allowed to issue credit cards in China.

Nadir Mahmud, Asia head of local markets and foreign exchange strategy, will take over Zorrilla’s previous job as head of markets for the region, the memo said. The replacement for Nappi, previously the area’s head of global transaction services, will be announced later, the memo said.

“This structures creates clear leadership accountability and enhances communication alignment against Citi’s global growth priorities in a region that is core to Citi and generated over a third of the bank’s global profit in 2011,” Griffiths said.

The appointments follow a similar shuffle last week for Europe, Middle East and Africa, where the bank has also reorganized management under a single CEO, Michael Corbat.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Russell Ward at rward16@bloomberg.net

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