EMEA industrials head appointed at Citi GTS

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02 March 2010

Citi names veteran transaction banking specialist to head up the industrials sector for corporate clients in EMEA.

David Aldred has been appointed as the industrials sector head for corporate clients in the Europe, Middle East and Africa region at Citi Global Transaction Services in London. Aldred will report into Swati Mitra, EMEA region head for client sales management, corporates.

In his new...

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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%