THE CITAX STORY
The principal promoters of the Citax Group started their entrepreneurial journey in the US with the establishment of an Cargo Airline business serving East Coast of United States, feeding cargo from smaller cities to the hubs of UPS and DHL. Having successfully grown that business to its pinnacle, it was sold to a major cargo operator.
Next, Srinivas Solaraj set up a multi-strategy hedge fund headquartered in Zurich, Switzerland. The fund quickly grew popular with its stellar performance, reaching peak returns in excess of 42% in US dollar terms and total assets under management in excess of 3 billion USD. Subsequently, the hedge fund business was sold to one of the global leaders in financial services.
During this time, the Principals of Citax became involved with investing in the oil business and acquired significant equity stakes in an operational oil field in Russia and in an oil refinery in Argentina.
While investing in the upstream assets, Srinivas started trading crude oil from West African region and petroleum products to South Africa. Over the period, the trading business has grown significantly and has become a key vertical of the business group to be later named the Citax Group.
With primary interests in core sectors of energy, financial services and healthcare in Asia, Middle East and Europe, we plan to leverage synergies across our businesses. We aim to achieve superior returns for all our stakeholders while working to high standards of ethics and corporate governance.
A strong management team with significant experience, extensive industry relationships and capability to successfully execute projects enhances our ability to be an effective global player in a volatile world economy and succeed in an industry scenario that is highly competitive.
CORPORATE GOVERNANCE AT CITAX
It's in our DNA – Citax’s team-oriented structure helps its people bring new ideas, inspiration and passion to a fast changing business environment. Workforce diversity at Citax puts complementary skills together and company wide synergistic effort brings about an increase in productivity and boosts employee morale. We foster a unified, goal-oriented organization and the strength of each individual is nurtured and encouraged.
Citax Manangement believes in doing business the right way. Our company’s reputation and success depend on it. Every day, we work to fortify our strong tradition of ethics, integrity and transparency. Citax management endeavors to be open and approachable, encouraging communication between all individuals across the company. Our management team has representation from across the company and this ensures that decisions are taken in consideration of all aspects. We ensure that leaders thrive in all our operations and each one of them know how to lead as well as to manage. The Citax management is laser-focused on following the highest standards of personal and corporate conduct and expect a rigorous approach to risk management. We are collectively responsible for maintaining the culture of compliance while living our values.
The Citax leadership fosters a spirit of ethics, integrity, and lawfulness by personally leading compliance efforts. Citax has rigorous policies and procedure in place to ensure that it complies with all relevant national and international legislation and regulation. Citax also communicates the importance of compliance at every appropriate opportunity. We hold our managers accountable for fostering an atmosphere of compliance in which associates clearly understand their obligations and feel at ease to raise a concern absent any fear of retaliation. We are committed to ensuring any issues reported are taken seriously, and are followed through to resolution.
The foundations of Citax’s business is built upon understanding and managing risk. The ownership structure incentivizes the preservation of capital and a measured approach to risk, and creates a culture of responsibility and accountability.
