Mr Ahmad, in his new role, will work closely with Citi’s public sector group and will also help provide senior coverage support on cross-border initiatives.

Mr Ahmad brings 25 years of global financial services industry experience to Citi, during which time he has worked on a large number of transactions in both the US and emerging markets.

He joins Citi from Standard Chartered and, prior to that, held senior positions at JP Morgan, including vice chairman and COO of Americas investment banking and vice chairman of the financial sponsor group.

John Havens, CEO of institutional clients group at Citi, said: “Zubaid is a seasoned corporate and investment banking professional, and commands a tremendous depth of knowledge and impressive stable of client relationships. We are extremely pleased that he is joining us to help lead our team in delivering the uniquely powerful combination of Citi’s global reach and product depth to our sovereign wealth fund clients.”