Insight & Analysis

Press release: Citi Treasury and Trade Solutions announces new leadership for North America Commercial Cards and Trade

Published: May 2018

“Both Sébastien and James bring tremendous experience to the region and will help our business capture new flows, leverage innovative technologies and commercialize our new products and solutions,” said Mike Fossaceca, Citi’s North American Head of Treasury and Trade Solutions. “The Trade and Commercial Card businesses are rapidly changing and both James and Sébastien are ideal choices to lead these businesses into the future.”

Commercial Cards

Sébastien Delasnerie joined Citi in 1997 as a Relationship Manager covering the telecommunications and energy verticals in the Paris office before moving to the New York-based Fixed Income group in 2001. He joined the TTS business in 2007, initially holding roles in Trade Sales, before becoming the Trade Finance Product Head, and subsequently North America Trade Head in 2014.

Citi’s Commercial Cards business provides Travel, Purchase and Virtual cards solutions to institutional clients, including corporations, financial institutions and public sector entities. It has been recognized as a global market leader with the largest proprietary network in the industry, with local issuance in over 60 countries, 45 unique currencies and 30 languages. As a leading commercial card issuer both in North America and globally, Citi has one of the largest global footprints supported by unrivalled card acceptance.


Prior to this role, James Fraser was the Global Head of Trade Risk with risk management responsibility for Trade Finance, Trade Services, Export Agency Finance and Commodities, within TTS. He joined Citi in 2003 and has held senior positions across the bank including five years as a Senior Banker in both New York and London.

Citi’s trade platform incorporates working capital and supply chain management, trade services (including specialized trade programs) and export and agency finance products, which work to help create end-to-end solutions ranging from short- and medium-term financing to complex structured trade models.

The TTS North America Trade business was just awarded the Best Trade Finance Bank in North America by Global Trade Review Magazine. “We are honored to be recognized as a Leader in Trade by Global Trade Review,” continued Mike Fossaceca. “The award is evidence of our single-minded focus on being and doing the best for our clients.”

Citi Treasury and Trade Solutions (TTS) helps to enable our clients’ success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry’s largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering a comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

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