Citi appoints new co-heads of emerging markets division in EMEA

- Citigroup Inc on Thursday named Hamza Girach and Rizwan Shaikh as co-heads of emerging markets at its banking, capital markets and advisory division in Europe, the Middle East and Africa (EMEA).

Girach and Shaikh have been with the bank for roughly two decades. Girach was part of the team that covered Saudi Aramco's record initial public offering in 2019.

The Wall Street giant also appointed Miguel Azevedo as chairman of emerging markets EMEA investment banking, according to an internal memo seen by Reuters.

The appointments were first reported by Bloomberg News.

Earlier this month, Reuters reported the bank was cutting as many as 50 jobs in EMEA amid a stall in dealmaking.