Citigroup Incorporated, the United States lender with a presence in 16 African countries, has appointed Ade Ayeyemi as Chief Executive Officer for sub-Saharan Africa.
Ayeyemi, who was head of transaction services in Africa, has been with the bank for 25 years, Citigroup said in an e-mailed statement on Tuesday.
Ayeyemi, who worked for the bank in Nigeria before taking up regional roles, will be based in Johannesburg.
Citigroup, which provides project financing and investment banking in Africa, has been expanding on the continent to tap economic growth that is outstripping rates in developed nations.
Chief Country Officer, Citigroup South Africa, Mrs. Donna Oosthuyse, said Africa represented an important growth opportunity for Citigroup as the continent increased its share of world trade.
“We believe that Africa will outpace that of many parts of the world and expect that in time, Africa’s share of contribution to the bank will also increase,” Oosthuyse added.