sharmas-empire-in-the-citi-grows

Sharma's empire in the Citi grows

Citigroup promotes Deepak Sharma to head all wealth management businesses outside of the US.

Sameera Anand

April 10, 2007

Citigroup Global Wealth Management has announced that Deepak Sharma is being promoted to CEO, to oversee all of its wealth management business outside the United States. The move expands SharmaÆs responsibilities for the Asia-Pacific and Middle East to include Europe and Latin America and reinforces the growing importance of Asia for private banking.

Sharma will continue to be based in Singapore, reporting to Sallie Krawcheck, chairman and CEO of the bank's wealth management division. He will now manage a business that spans five continents and employs more than 2,500 professionals. In 2006, it accounted for $1.4 billion in revenue, on which it posted a net income of $234 million. Krawcheck herself was appointed to...

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