Citi names APAC bank services head

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02 March 2010

Former trade head for Africa to take over responsibility for Citi’s Bank Services Group in the Asia Pacific region.

Citi’s Global Transaction Services group has named Munir S. Nanji as managing director, regional head, Bank Services Group (BSG), Asia Pacific and Japan.

Based in Hong Kong, Nanji will report to Anthony Nappi, managing director, regional...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%