Cross border payments

Citi shakes up leadership at treasury and trade unit

By John Adams May 08, 2018, 4:00 p.m. EDT 1 Min Read

Citi Treasury and Trade has new leadership for its North America Commercial Cards and Trade division.

Sebastien Delasnerie will lead commercial cards and James Fraser will be in charge of trade.

Delasnerie has been with Citi for 21 years, serving as a relationship manager and working in the fixed income group. He joined the TTS business in 2007. Fraser has been with Citi since 2003 and was mostly recently global head of trade risk with risk management responsibilities for trade finance, trade services, export agency finance and commodities.

citigroup, citibank — A pedestrian walks past a Citibank branch in the ground floor of Citigroup Inc. headquarters in New York, U.S., on Tuesday, March 8, 2011. Citigroup, the third-largest U.S. lender by assets, now earns more than half of its profit from emerging markets, Chief Executive Officer Vikram Pandit said last month. Photographer: Jin Lee/Bloomberg

Both executives enter their new positions at a time of high competition for cross-border payments. Citi is using its treasury and trade division to bolster its strength in that market through a collaboration with WorldLink that will support a move into new markets and additional ACH corridors.

At the same time, rival JPMorgan Chase has acquired WePay to fast track digital payments for international business markets and fintechs such as CurrencyCloud are also pursuing the market.

Executive Editor, Payments, American Banker

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