Citigroup has named Ebru Pakcan as head of its emerging markets business in Europe, another step in its goal to having half all country leadership roles occupied by women.

Pakcan will replace 37-year bank veteran Atiq Rehman, who announced his decision to retire in March, according to an internal memo seen by Financial News. She will lead Citi's so-called emerging markets cluster in Europe, the Middle East and Africa, a unit created in 2019 to cover regions such as the Middle East, North Africa, Sub-Saharan Africa and some Eastern European countries.