Citi announced the creation of a new business unit – Global Enterprise Payments — to develop comprehensive institution-to-consumer and consumer-to-institution payments solutions for the world’s largest global corporations and financial institutions, as well as governments. Global Enterprise payments represent a significant growth opportunity for Citi, in which it is well-positioned to be the industry leader.

Vikram Pandit, Citi CEO said, “With our unmatched global footprint and services infrastructure, no one other than Citi can capitalize on the opportunities in the services area. Enterprise Payments is a natural intersection between our consumer and institutional businesses that will engineer innovative solutions for our clients.“

Paul Galant will lead this and serve as CEO and will leverage Citi’s industry leading services from its Global Transaction Services (GTS) and Citi Cards businesses. He will work in partnership with Francesco Vanni d’Archirafi, CEO of GTS and Jud Linville, CEO of Citi Cards to ensure that the collective power of both franchises are represented in this critical effort. With his deep knowledge of both institutional and consumer payments, Paul will wield Citi’s industry-leading wholesale and retail payment capabilities across regions and organizations globally.

Prior to this, Paul has served as CEO of Citi Cards (where he led the NA Branded Cards and International Cards businesses through a period of massive industry and regulatory change, significantly enhanced its innovation pipeline and prepared the business for future growth) and before this as CEO of GTS.

Paul Galant, CEO of Global Enterprise Payments said, “This is an exciting new opportunity for Citi that will significantly benefit our institutional clients. By developing services that enable our clients to interact more efficiently with their customers, we will create incremental revenue opportunities for both our clients and for Citi.”