Eric Aboaf is the Treasurer of Citigroup. Eric is responsible for managing the company's $1.9 trillion balance sheet, ensuring strong liquidity and optimizing the capital structure. Eric oversees Citi's $400 billion global liquidity portfolio while directly managing the $200 billion of U.S. investments. Eric meets regularly with major investors, clients and regulators, and leads Citi's quarterly webcast presentation to fixed income investors.
Eric is a member of Citi's M&A and Disclosure Committees. He works closely with all of Citi's businesses to support their growth strategies, drive net interest margin, provide attractive balance sheet funding and optimize returns for the company. During his tenure as Treasurer, Eric restructured the balance sheet to create $150 billion of additional liquidity and has significantly reduced funding costs to stabilize Citi's net interest margin. He leads the program to reengineer the Treasury function.
Prior to becoming Treasurer, Eric held several Chief Financial Officer positions at Citi. From 2008 to 2009, Eric was the Global CFO for the Institutional Clients Group where he led the finance and strategy functions for Capital Markets, Investment Banking, Transaction Services, and Alternative Investments. In this role, Eric drove multiple rounds of expense and headcount reductions, spearheaded efforts to reduce the balance sheet, developed critical management information systems to better forecast revenues and asset valuations, and instituted hedging programs for volatile assets.
From 2006 to 2008, Eric was Deputy CFO and then CFO for the North American Consumer Group, which spanned Credit Cards, Retail Banking, Consumer Finance and Insurance. In this role, Eric led the finance, strategy and reengineering functions. He drove both expense reengineering, which included procurement, site consolidation, right-shoring and organizational delayering, as well as revenue reengineering, which involved pricing optimization, marketing effectiveness and product/segment profitability improvements.
Prior to these roles, Eric was Head of Financial Planning & Analysis, where he orchestrated the budget process and provided financial and strategic analyses to support all Citi businesses. He also served as Head of Capital Allocation & Deployment, where he oversaw the development and initial implementation of Economic Capital and Basel II.
Prior to joining Citi, Eric was a partner at Bain & Company and Co-Head of its U.S. Financial Services Practice. He has more than 14 years of business strategy consulting experience spanning a number of industries, including Securities, Banking, Insurance, Reinsurance and Asset Management, as well as Manufacturing and Consumer Products. Prior to Bain, he worked at Oliver Wyman & Company, a New York-based strategy firm.
In 2010, Treasury & Risk Magazine named Eric one of the "100 Most Influential People in Finance." Eric has published several articles in The American Banker and Harvard Management Update.
Eric is a summa cum laude graduate of both the Wharton School of Business and the Engineering School at the University of Pennsylvania. He holds a Master of Science degree from Massachusetts Institute of Technology.