US investment bank Citi has promoted a 20-year veteran to chief risk officer of the Citigroup Global Markets business in Europe and in Germany, according to an internal memo seen by The TRADE.
Amela Sapcanin takes on the role based in Frankfurt and also joins the management board of Citi Global Markets Europe. She replaces Ingo Mandt.
Sapacanin has been with Citi for 20 years having held various senior positions across banking and risk. Her most recent role was regional risk head for the EMEA private bank, after previously leading the UK and Jersey Citi private bank risk team.
Citi said it has commenced the search for a new regional risk head of EMEA Citi private bank, and Sapacanin will continue in that role until a successor is found.
Kristine Braden, who penned the memo on Sapacanin’s new appointment, was recently promoted to head of the Europe cluster and CEO of Citigroup Global Markets Europe based in Frankfurt. Moving the role from Dublin to Frankfurt signalled Citi’s endorsement of Germany as a European hub following Britain’s exit from the EU. Braden succeeded Zdenek Turek who had been repositioned as EMEA chief risk officer in London.
The management reorganisation was in order to “take advantage of the distinct opportunities that exist for Citi globally, and within EMEA”, a separate memo from Citi on Braden’s promotion said at the time.