Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.


Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.


Citi appoints new head of South Asia operations and technology

Citi appoints new head of South Asia operations and technology

The banking company announced the appointment of Shrinath Bolloju as Head – South Asia operations and technology (O&T), effective November 19

Mr. Bolloju will oversee O&T across India, Bangladesh, and Sri Lanka. He will be responsible for driving sustainable growth and promoting a client-centric culture by continuing to improve operational efficiency, reduce operational risk, and enhance client experience in O&T

He will report to Citi India CEO Pramit Jhaveri and Asia Pacific Head of O&T Vikram Subrahmanyam. He will also be part of the Asia Pacific O&T Operating Committee and a member of Citi South Asia senior management team.

He joins Citi from RBL Bank, where he was the Chief Operations Officer(COO) and member of the management committee. He was responsible for the bank’s technology, operations and corporate services.

Prior to that, Bolloju worked at Deutsche Bank from 2996-2017–where his last role was Managing Director and Head of Securities Services Transformation in the transaction banking business. He was based in Singapore and was responsible for the platform transformation strategy for securities services products.

With 30 years of experience across O&T domains, Bolloju has a record of driving efforts on transformation across RBL, Deutsche Bank, and System Access. He has worked in the UK and Singapore, as well as in India, where he began his career with Citi in 1988.

He holds a Bachelor’s degree in Chemical Engineering from the National Institute of Technology, Warangal, India and a Master’s in Management (Marketing) from the S.P. Jain Institute of Management & Research, University of Mumbai, India. 

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