Citi hires Abraaj executive to steer Pakistan business
Abraaj Capital’s Nadeem Lodhi has been appointed as head of Citigroup’s operations in Pakistan. Lodhi was previously a principal at Dubai-based Abraaj, taking responsibility for the firm’s sub-Saharan Africa business.
According to Reuters, Lodhi will be Citi's CEO for Pakistan, mainly focusing on growing the bank's corporate and investment banking business in the country. An earlier report by Economy Age said Lodhi's official title is managing director and chief commercial officer of Citi Bank Pakistan. He replaces Arif Usmani, who has gone to work for the Abu Dhabi government.
Prior to joining Abraaj, Lodhi was a managing director at DIB Capital, heading up the debt capital markets business where he was responsible for several Sukuk transactions. Before that, he served as Citi's chief country officer in Uganda.
Abraaj recently boosted its exposure to Asia Pacific through the acquisition of Aureos Capital, gaining offices in 12 countries throughout the region and around 50 staff. The combined entity has approximately $7.5 billion in assets but Aureos will retain its brand and its principal focus as an investor in small- and medium-sized enterprises (SMEs).
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