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New chief executive at Citibank Europe plc, Zdenek Turek replaces Aidan Brady, as chief executive of Citibank Europe and chief country officer of Citi Ireland Back
February 12th 2016: Citi has appointed Zdenek Turek as chief executive of Citibank Europe plc, headquartered in Dublin. Turek replaces Aidan Brady as chief executive of Citibank Europe and chief country officer of Citi Ireland, who is retiring after 30 years with Citi.
Speaking about his appointment, Turek said: 'Citi’s strategy is to create a simpler, safer, smaller and stronger institution. Over the last 50 years, Citi in Ireland has grown from 200 employees in 1965 to 2,500 today and the growth of Citibank Europe demonstrates Citi’s faith in the leadership team and its ability to attract and retain skilled workers across many different functions'.

'It is also testament to Citi’s belief in Ireland as a stable entity and we look forward to continuing to grow our operations here. I am very pleased to be joining the team in Ireland as CEO of this pan-European bank', he continued.

A Czech, who has worked in a series of multinational CEO managerial positions in Citi internationally, including Africa, EMEA, Russia, and latterly Western Europe, he began his working life with mandatory service in the Czech military in 1987, upset over what he saw as a wasted year, as he said in a 2012 interview in the Moscow Times.

He said that one of his main inspirations was Czech President Vaclav Havel, whom he described as 'very inspirational to my generation simply for being able to stick to his ethics under any circumstance'. "I do believe that a nation needs economic prosperity, but without a moral beacon and moral leadership there is always increased volatility. I believe that Havel had an immeasurable but highly positive impact on people and the whole society" , he said.

Joining Citi at its announcement, Simon Harris TD, Minister of State with responsibility for International Financial Services, commented, “I am delighted to not only join Aidan and Zdenek in passing on the baton of Citi leadership in Ireland, but also to see the commitment of Citi to grow its operations in Ireland. It is a strong vote of confidence in the quality of our operating environment and of our workforce.”

Zdenek Turek joined Citi in 1991 in Prague, where he held a number of banking and corporate finance management roles before moving to Citi Romania in 1998 as Citi Country Officer. From 2002 to 2005, Zdenek was Citi Country Officer for Hungary and also oversaw the Central European cluster of five countries including Hungary, Czech Republic, Romania, Slovakia and Bulgaria.

From 2005 to 2008, Zdenek held the position of Citi Country Officer for South Africa and Division Head for Africa with responsibility for the bank’s business in the 16 countries where Citi has a presence. Until 2013, Zdenek served as CEO of Central and Eastern Europe and Citi Country Officer for Russia, based in Moscow. Zdenek Turek currently oversees all of Citi’s franchises in Western Europe (19 countries) and, prior to his appointment as CEO of Citibank Europe Plc, was responsible for Citi’s Corporate Banking business in Europe, Middle East and Africa.

Citi Ireland celebrated its 50th year in operation in Ireland in 2015, having been the first foreign bank to open an office in Dublin in 1965. Citi now employs 2,500 people in Ireland and is the largest employer in the IFSC.

Citi chose Ireland as the headquarters for its pan-European bank with outgoing chief executive Aidan Brady having responsibility for operations across 21 European countries. Under outgoing CEO Brady's leadership Citi established major R&D operations in Dublin through the bank's first Innovation Lab and greatly expanded its banking and funds units. The Irish operation has almost 30 business units.

In an interview with Finance Dublin in 2014 Brady reflected on the success of growing Citi's Irish and European operations and on the huge opportunities that lay ahead - including financial technology and operational risk governance.

The company offers a broad range of financial services and products and also operates the Citi Service Centre. The bank provides financial services and products for multinational companies, Irish companies and the government and public sector. The range of products and services include: cash management, rate risk management, (FX and interest rates), funding, investor products, corporate finance, trade services, custody, trustee services, fund administration, transfer agency, outsourcing and shareholder services.

Citi, a leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.
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