Citibank Replaces Executive After Fraud Case

Citibank said the replacement is not related to fraud case committed by former employee

Kamis, 9 Juni 2011, 16:13 Nur Farida Ahniar

VIVAnews – Citibank announced the replacement of its Country Head and City Country Officer (CCO) of Indonesia, Shariq Mukhtar. Citibank explained that the replacement is only a regular rotation, and refuted that it was due to several cases including the alleged embezzlement by Malinda Dee and the death of its client, Irzen Octa.

Citibank Indonesia Corporate Affairs Head, Ditta Amahorseya, said that the replacement is an internal rotation. Shariq is deemed successful in leading Citibank Indonesia.

“Those (Citibank cases) are not the reason. Pak Shariq has been successful in Indonesia,” she told VIVAnews.com in Jakarta today.

Citibank explained that the replacement is not linked to the result of the fit and proper test conducted by Bank Indonesia. The Indonesia’s largest private bank has not yet had the fit and proper test result. “We haven’t obtained the result. This is an internal replacement,” she said.

Shariq was posted in Indonesia starting 2005 and became CCO in 2008. He will continue his career in Singapore. As of June 30, he will be replaced by Tigor M Siahaan, who previously took the post of Citi Indonesia country business manager institutional clients group.

Tigor is the first Indonesian to take the post of country business manager. Now he is an Indonesian who becomes a CCO.

Earlier BI sanctioned Citibank for two cases, namely the alleged customer funds embezzlement by its former employee Malinda Dee and the death of its client Irzen Octa when he was dealing with his credit card bill. In relation to the cases, BI also ran a fit and proper test over Citibank management, including Shariq.

Other officials who took the test were the Citibank retail director, the landmark head branch office manager and head of collection as well as director of compliance.

Translated by Indah Lestari

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