Citi has announced changes in personnel and the corporate names of Nikko Citi Holdings and some of its operating subsidiaries, effective from October 1, 2009.
Reportedly, Nikko Citi Holdings will be renamed as Citigroup Japan Holdings. It continues to be a direct, 100% owned subsidiary of Citigroup and will serve as Citi’s principal holding company in Japan.
It has added that the Citigroup Japan Holdings will establish a group-wide strategies for, and oversee and coordinate the activities of, its direct and indirect operating subsidiaries.
Citi’s wholesale investment banking business in Japan, currently operating as Nikko Citigroup, will be renamed Citigroup Global Markets Japan. Under the new corporate name, Citigroup Global Markets Japan will continue to offer a range of financial services, including investment banking, sales & trading, and research.
The bank has further added that Douglas Peterson will be appointed as chairman of Citigroup Global Markets Japan.
