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MPotter_Citigroup CEEMEA_061111

MPotter_Citigroup CEEMEA_061111 - Citigroups CEEMEA Sales...

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Citigroup’s CEEMEA Sales and Trade Page 1 Analysis of Citigroup’s CEEMEA Sales and Trade Using Infocentricity for Increased Profits Melissa Potter Rasmussen College B351/Management of Information Systems June 11, 2011 Joe Caberto, Professor Executive Summary In 2000, Suneel Bakhshi was appointed the head of Citigroup’s CEEMEA sales and Trading division. Mr. Bakhshi developed a package that utilized their current information, personnel, and IT. The product provided their customers with a service that allowed them to effectually trade in global securities using real time information and communication at a lower cost. Not only did this knowledge help in trading, but it helped the company to provide excellent customer service which developed a trusting business relationship. Once traders began sharing trade information, CEEMEA began to realize an increase in profits by as much as 160%. Profits dropped in 2008 as the economy went
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Citigroup’s CEEMEA Sales and Trade Page 2 into a recession e busted and the division had lost its top leadership. In more recent times, the division is working on restructuring once again, focusing on curtailing their products and services in emerging markets where 50% of profits are derived from. Introduction Citigroup CEEMEA has been in business since 1989. The CEEMEA was registered as a trademark in 1988 and it stands for Central & Eastern Europe, Middle East & Africa. They are a global leader in Web-based tools and diagnostics for validating business performance and information. In 2000, Citigroup CEEMEA division created a product package that offered a packaged product that helps their clientele to make educating decision in global trading using real time, accurate, and verifiable information. Under the leadership of Suneel Bakhshi, the CEEMEA division of Citigroup developed a means of developing a service and product package that enabled their clients to make informed decisions in global securities. Suneel Bakhshi and other management were an important resource that enabled the product to be successful. In 2003, Suneel Bakhshi moved to another department in Citigroup and in 2004 was named Executive Vice President of Citigroup. Like other banks and organizations, Citigroup was hit hard during the economic crisis in 2008 and is taking time to recover. But if they weren’t as strong as they were going into the crisis, they may not have survived. Since the economic crisis was such a huge factor in losses recognized in 2008 – 2009, it would be unfair to state that the CEEMEA division failure to continue its profit growth to Suneel Bakhshi exit from the division. Info centricity was a key ingredient that Bakhshi brought to CEEMEA Sales
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MPotter_Citigroup CEEMEA_061111 - Citigroups CEEMEA Sales...

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