Citi has a brand new head of business banking (CCB) for the UK.
James Morris, a 25-year veteran of British banking large Barclays, is anticipated to tackle that position Sept. 30, Citi introduced Monday (July 15) in a information launch emailed to PYMNTS.
“James is an skilled banking chief with a confirmed observe document of main high-performance groups throughout a number of sectors and geographies,” Tasnim Ghiawadwala, head of Citi Business Financial institution, stated in a information launch. “I’m assured that James will proceed the wonderful progress of our UK CCB franchise and drive sturdy momentum out there.”
Morris shall be liable for all of Citi’s business banking enterprise and operations within the U.Okay., together with driving the financial institution’s enterprise technique and monetary efficiency.
At Barclays, Morris held a lot of senior positions, together with U.Okay. head of enterprise {and professional} companies for big company banking, one he took on in 2021.
“CCB is an integral a part of Citi’s world technique and key engine for progress,” the information launch stated. “It focuses on delivering Citi’s product suite, together with however not restricted to money and liquidity administration, overseas change, commerce finance, capital markets and lending options, to mid-sized corporates which can be both world or seeking to construct a global footprint.”
In different British banking information, the nation’s Monetary Ombudsman Service stated final week that U.Okay. customers have extra complaints concerning the banking sector than they did a yr in the past.
Complaints concerning the trade are at their highest stage in at the least a decade, with all probably the most complained about merchandise seeing year-over-year will increase in instances, the FOS stated.
In all, the variety of complaints jumped from 61,995 within the monetary yr 2022-23 to 80,137 within the monetary yr 2023-24.
“It’s at all times regarding while you see instances rise so considerably, notably when so many individuals are struggling within the present financial local weather,” Abby Thomas, CEO and chief ombudsman of the Monetary Ombudsman Service, stated in a information launch.
Frauds and scams accounted for extra complaints than ever earlier than, the regulator stated, with about half of those instances involving approved push fee (APP) scams wherein customers have been duped into sending cash solely to fraudsters.
APP fraud is on the rise all through international locations the place real-time and immediate fee rails are more and more frequent, together with the U.Okay., the European Union and america, PYMNTS reported in March.
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