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Citi Hires JPMorgan Exec Ron Karpovich For New eCommerce Unit

Citi is launching a new eCommerce sales division that will be headed by Ron Karpovich, who comes to the bank from J.P. Morgan, where he led telecom, media and technology solutions within wholesale payments.

According to a Citi statement sent to PYMNTS, at J.P.Morgan, Karpovich was in charge of a global team that took care of central commercial and investment banking clients. He brings over 20 years of banking experience and has held multiple senior-level positions in treasury services, foreign exchange services and merchant acquiring.

See also: Banking Veteran Carol Grunberg To Lead Innovation, Strategic Partnerships For Citi’s TTS Division

“Over the last year and a half, we have witnessed changes across our industry, with COVID affecting every aspect of our business, creating new challenges and opportunities as digital replaced physical in almost every industry and client segment,” Shahmir Khaliq, Citi’s global head of treasury and trade solutions (TTS), said in the statement. “A key area of explosive growth has been the eCommerce sector, with consumers increasingly interacting digitally with our institutional clients.”

Read more: Citi Taps Khaliq To Lead Treasury And Trade Solutions

Khaliq noted that eCommerce is among the most predominant growth propositions for Citi, and that the bank is developing an international workforce to revolutionize its strategy. Citi’s goal is to ensure that its clients “thrive in a digital world” while the bank works to meet customers’ needs with “market-leading solutions.”

Karpovich will join Citi on Oct. 22 and will report to Khaliq as part of the TTS executive committee. He will be based on the West Coast.

Related news: Citi Appoints Elms To Lead Sales For Treasury And Trade Solutions

Citigroup Inc. is a worldwide investment bank and financial services corporation headquartered in Manhattan. The company stems from a 1998 merger of Citicorp and Travelers Group.

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