
Citi announces Carmen Haddad will join Citi Wealth in a senior capacity
Carmen is a talented banker and experienced leader who has worked across geographies, institutional businesses and wealth management.
Given her deep experience in the Middle East, Carmen will be instrumental in Citi's efforts to serve clients in a region experiencing rapid growth in wealth creation. She will also advise on client opportunities throughout the entire Private Bank and partner across Citi businesses.
Carmen joins Wealth from the Client Organization where she successfully covered Wealth and other Institutional clients, including key Sovereign/Government entities, strategic institutional clients and family offices for the past 18 months.
Carmen first joined Citi Private Bank in 2000. During her time with Citi, Carmen has held a variety of senior roles, including Middle East Vice Chair, CCO for the Kingdom of Saudi Arabia and CCO of Qatar. She also led the Private Bank in the Gulf, Egypt, and Levant. Carmen has worked on some of the most high-profile transactions in Saudi Arabia, including the IPO for Saudi Aramco and the inaugural Sovereign Loan and Bond. Carmen began her career with JP Morgan Chase in London and later worked as a financial consultant at Lehman Brothers, covering the Middle East and North Africa Institutional and Private Clients. She also spent time with Merrill Lynch in Private Client Services, focused on U.S. equity trading and alternative investments.
Citi Press office
Middle East
Tara.sirinyan@citi.com

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Economy ME
6 days ago
- Economy ME
China-Arab trade volume hits $407.4 billion in 2024, up 2.3 percent YoY
Trade volume between China and Arab countries rose by 2.3 percent year-on-year in 2024, reaching $407.4 billion. This growth reinforces China's position as the leading trading partner for the Arab world for several consecutive years. Chinese Assistant Minister of Commerce Yuan Xiaoming reported that Chinese exports to Arab nations totaled $206 billion, while imports from these countries reached $201.4 billion. Yuan Xiaoming highlighted the significant advancements in economic and trade cooperation over recent years, with bilateral investments extending into sectors such as metal smelting, building materials manufacturing, cotton textile production, and aquaculture. Notably, Arab sovereign wealth funds and companies have ramped up their investments in China's petrochemical, new energy, and emerging technology sectors. Infrastructure cooperation has also made remarkable strides, while emerging fields like e-commerce, cloud computing, and artificial intelligence demonstrate robust growth potential. Read more: U.S. and China ease trade tensions with 90-day deal, tariffs cut by over 100 percent Year-on-year performance Additional data from China's General Administration of Customs reveals that total trade between China and Arab League countries surged by over 820 percent from 2004 to 2023, reaching approximately 2.8 trillion yuan (around $390.14 billion). In the first four months of 2024 alone, trade climbed 3.8 percent year-on-year to historic highs, accounting for nearly 7 percent of China's total foreign trade value during that period. The United Arab Emirates, Iraq, Oman, Qatar, Egypt, and Saudi Arabia represent the top six Arab trade partners of China, constituting about 85 percent of the total volume. Chinese exports include automobiles and textiles, with notable year-on-year increases of 66.3 percent and 3.2 percent respectively between January and April 2024. Meanwhile, Arab countries are a significant source of energy imports for China, accounting for 38 percent of China's energy product imports in early 2024. Additionally, trade between China's private enterprises and Arab countries reached 497.14 billion yuan, reflecting a 16.3 percent increase year-on-year and making up over half of the total China-Arab trade volume in that timeframe.


Zawya
25-07-2025
- Zawya
Citi Renews Coverage of Fosun International with a "Buy" Rating
HONG KONG SAR - Media OutReach Newswire - 25 July 2025 - Citi issued its latest report on 23 July, announcing the renewing coverage on Fosun International ( with a "Buy" rating and a target price of HKD5.86. Citi has made material changes to its financial estimates on Fosun International, expecting core profit for financial year 2025 to grow by 197% year on year to RMB2.2 billion (excluding the one-off non-cash loss of RMB5.1 billion from Cainiao in financial year 2024). It also expects an 81% year-on-year profit growth in financial year 2026, primarily driven by the earnings recovery at the "Happiness" segment and lowered finance costs from the Group's proactive deleveraging efforts. Citi also highlights that Fosun is accelerating its "strategic advancements and exits" strategy, targeting to divest over RMB80 billion in heavy assets and non-core assets. By end of June 2025, Fosun completed the sale of all its 99.743% stake in the German private bank HAL, while retaining the asset servicing business HAFS. Citi believes that the capital recycling from asset divestments will enhance shareholders' returns and narrow the net asset value discount. The report points out that Fosun's current share price trades at a 71% discount to its net asset value. Despite its stock performance outperforming the Hang Seng Index over the past 30 days (+14% vs. +7%), its valuation still has significant room for recovery. Citi is optimistic about Fosun International's future earnings improvement and the re-rating potential brought by its deleveraging strategy, thus assigning a "Buy" rating to Fosun International. Hashtag: #Fosun #復星國際 The issuer is solely responsible for the content of this announcement. Fosun International


The National
24-07-2025
- The National
Mubadala hosts business leaders on sidelines of DC Open in Washington
Abu Dhabi's strategic investment firm Mubadala has co-hosted a business convening with the Milken Institute and Citi on the sidelines of the Mubadala Citi DC Open in Washington. Speakers at the event were Mubadala deputy group chief executive Homaid Al Shimmari, US Commerce Secretary Howard Lutnick, G42 group chief global affairs officer Talal Al Kaissi, MGX chief strategy and safety officer David Scott, Milken Institute chairman Michael Milken, Washington Mayor Muriel Bowser, US tennis star Frances Tiafoe and others. Among the topics discussed during the Tuesday event included investment and policy priorities to advance economic growth. Key themes during the session included sport's role in Abu Dhabi's evolution as a global city, Mubadala's commitment to adding value and how sport is driving Washington's changing economy. Other themes included US facilitating foreign investment in the UAE, Mubadala's role as a key player in the Emirates' economic partnership with the US and the two countries' relationship in AI and artificial intelligence. The US and UAE have strengthened their relationship in the new technology in recent months, including the UAE's commitment to a $1.4 trillion investment framework in the US related to AI infrastructure, semiconductors, energy and manufacturing. In May, UAE President Sheikh Mohamed and Mr Trump witnessed the unveiling of plans for a new 5GW UAE-US AI Campus in Abu Dhabi during the president's visit to the country. Mubadala became a co-sponsor of the annual tennis tournament in 2023. The tournament is a 500-level event on the ATP and WTA tours, featuring a field of 48 players in the men's singles event and 28 players in the women's singles event.