Citi appoints Neil Corney as CEO of Israeli unit

TEL AVIV Wed Oct 23, 2013 3:31am EDT

TEL AVIV Oct 23 (Reuters) - Citi has named Neil Corney as chief executive of its Israeli subsidiary, replacing Ralph Shaaya, the U.S. bank said on Wednesday.

Currently, Corney is head of markets at Citi Israel and is responsible for management of the branch's balance sheet, local markets trading activity and client hedging solutions.

Corney initiated and led the establishment of Citi's Innovation Lab in Israel with the support of the Finance Ministry and the Chief Scientist.

Corney was appointed as the country treasurer for Citibank Israel in 2004. Prior to joining Citi Israel, he headed the trading department in the treasury at Bank Hapoalim, Israel's largest bank.

Shaaya, who served as managing director of Citi Israel for seven years, has been appointed chairman of Citi Israel.

Corney's appointment is subject to approval from Israel's banking regulator.

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