People Moves: Citi, Stanhope Capital, PA Group

Citi Commercial Bank 

Citigroup, the New York City-based banking and financial services giant which is increasingly known as Citi, has promoted Catherine Pierre to head up the UK operations of Citi Commercial Bank, a new role at the company. She will be based in London, and will report to Tasnim Ghiawadwala, head of the European, Middle East and African CCB business. Ghiawadwala handled many of the duties Pierre is to take on.

Pierre will also join Citi’s UK operating committee, which is chaired by UK chief country officer James Bardrick, Citi said.

Pierre comes to CCB from Citi’s corporate banking operations, where she had beenn head of EMEA capital and portfolio management execution. She first joined Citi in 2001.

In the UK, Citi Commercial Bank targets the middle market and mid-corporate market banking sectors, which it says have been growing.

Globally, its parent looks after around 200 million customers and is active in more than 160 countries.

Stanhope Capital

Stanhope Capital, the London-based private investment office, has named Nigel Spray partner, and head of its merchant banking division.

Stanhope didn’t say who he replaced in the role.

Spray comes to Stanhope Capital from Kleinwort Hambros, where he had been managing director and head of its own private merchant banking division.

Prior to Kleinwort Hambros, Spray founded Frontiers Capital, which acted as principal investor in, and adviser to, “high growth businesses in consumer sectors”, according to Stanhope. Before establishing Frontiers Capital, Spray had been a managing director at Credit Suisse, where he jointly ran its European Consumer Group.

Among Stanhope Capital’s other recent hires was Mexico’s former finance minister, Dr Pedro Aspe, who joined its advisory board in March.

Stanhope Capital’s merchant banking team provides advisory services, including M&A, capital raising, and other corporate finance advice to “substantial private clients such as entrepreneurs or industrial families with global assets across a number of industries”, according to the company. It also “provides sourcing, evaluation, structuring and execution services in relation to making investments in specific corporate situations, which could be minority, majority or controlling stakes”, it said, in a statement announcing Spray’s appointment.

Stanhope is active globally and currently consists of more than 80 staff, including 12 partners, who operate out of offices located in Geneva and Jersey in addition to its London headquarters.

Premier Assurance Group

Global insurance company Premier Assurance Group (PA Group), headquartered in Coral Gables, has appointed Karen Cordero-Fleites as director of marketing and communications.

In her new role, Cordero-Fleites will be responsible for leading PA Group’s “brand unification by consolidating all of the company’s products and services under one corporate image”, the company said. She will also manage the planning and budget for the company’s marketing initiatives.

Cordero-Fleites has more than 10 years of experience in the international insurance industry. She was previously the senior marketing manager of Global Benefits Group Inc., where she led the company’s rebranding efforts and improved the positioning of its brand and product image throughout Latin America.

She has served as marketing specialist at Best Doctors Insurance, where she supported the growth of the brand in Latin America, and subsequently in Canada and Europe.

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