Citi’s managing director for trade and working capital solutions in the Middle East and Africa, Ferdinand Zaumu, is set to leave the bank after nearly three decades, GTR can reveal.

His next role has not yet been disclosed.

Zaumu first joined the New York-headquartered lender in 1999 as an operations and technology officer in Douala, Cameroon, before moving to the finance department in 2022.

He subsequently rose through the ranks, holding several increasingly senior roles across the African continent.

Most recently, he had been leading the region’s trade and working capital solutions team since August 2023, based in Dubai.

Prior to that, he headed the same department in Sub-Saharan Africa for two years.

His almost 30-year Citi career has spanned operations, finance, transaction services, treasury and trade solutions and franchise leadership roles, including CFO for Cameroon and Algeria, and CEO of Citi Zambia.

While in Zambia, Zaumu also served as the chairman of the American Chamber of Commerce in the country and sat on the board of the Bankers Association of Zambia.

A replacement for Zaumu is yet to be announced.

Earlier this week, Citi posted a job advert for a head of trade and working capital solutions positions in the Middle East and Africa cluster, citing it as “a managing director-level role that is an extension of global product, as well as a sales and origination role, responsible for developing, articulating, and executing a comprehensive strategic vision for aggressive growth of the trade and working capital solutions business” across the region.

The role’s remit includes “identifying market opportunities and driving long-term growth trajectory of the MEA cluster” and “delivering global products to clients locally in the region, ensuring Trade’s global product offering is tailored to local markets’ nuances, regulations and other geography-specific complexities”.