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  • Citi Singapore Sees Wealth Transactions Skyrocket After Innovative Digital Transformation

    Citi Singapore Sees Wealth Transactions Skyrocket After Innovative Digital Transformation

    Citibank Singapore has seen a remarkable uptick in digital wealth management transactions, surging by an impressive 165% over the past two years. This surge is largely attributed to the bank’s significant overhaul of its mobile app and website, which now boasts over a hundred new features designed to enhance users’ wealth management experiences. According to Gourab Kundu, head of digital growth for Asia South at Citi Wealth, the initiative was motivated by a clear goal: to ensure that Citi’s digital ecosystem communicates effectively in the language of wealth.

    Revamping the Digital Landscape

    “We recognized the need to completely revamp the way we engage with our clients through our digital platforms,” Kundu shared during a recent Zoom call. This insightful overhaul seems to be paying off; four out of five clients now use Citi’s mobile app on a regular basis, indicating a widespread embrace of the bank’s digital offerings.

    Streamlined Investment Processes

    Among the standout changes to Citi’s digital interface is the introduction of an auto top-up feature, specifically for brokerage clients who wish to invest in US dollars. This innovative feature allows real-time currency conversion, effectively eliminating a previous hurdle where clients had to convert Singapore dollars into US dollars before initiating transactions. “Seventy percent of our brokerage transactions occur in the US markets, according to our Singapore data,” Kundu noted, highlighting a pivotal shift in user experience. Now, over 90% of brokerage transactions are executed digitally, signaling a clear move towards more efficient trading.

    Engaging with Wealth Management

    Citi’s efforts also extended to the mutual fund sector, where the bank doubled transaction volumes by simplifying the investment process and introducing a visualizer that allows clients to easily track the performance of their portfolios. Kundu described wealth management at Citi as entering a hybrid era, where clients enjoy the convenience of digital platforms while still having the option to consult with relationship managers.

    Digital Meets Human Touch

    To stay ahead in an increasingly competitive market, Citi has embraced a dual approach that blends digital access with human interaction. Clients can now swiftly authorize transactions without needing to speak face-to-face with an advisor. “Our platform sends alerts to clients about products, allowing them to review and authorize transactions seamlessly within the app,” Kundu explained.

    Furthermore, a secure WhatsApp channel has been established for relationship managers to communicate with clients, emphasizing Citi’s commitment to maintaining personal connections, even in a digital-first environment.

    Looking Ahead: Real-Time Payment Solutions

    As the bank sets its sights on the future, real-time payment processing looms large on CIS’s agenda. “One of Citi’s biggest advantages is our global reach,” Kundu emphasized, noting that the availability of payment corridors in real time is particularly beneficial. Recently, the company successfully launched real-time payments in India, the UK, and Thailand, unveiling new opportunities for cross-border transactions. “We’re excited to see solid improvements in the uptake of this cross-border payment facility,” he concluded, hinting at a bright future for Citi’s digital wealth management services.

    Questions & Answers

    What recent changes has Citibank Singapore made to its digital platforms?
    Citibank Singapore revamped its mobile app and website, launching over a hundred new features, which contributed to a 165% increase in digital wealth management transactions over the past two years.

    How has Citi improved the brokerage client experience?
    Citi introduced an auto top-up feature that enables real-time currency conversion for US dollar investments, simplifying the transaction process and allowing over 90% of brokerage transactions to be completed digitally.

    What is on the horizon for Citi’s wealth management services?
    Citi is focusing on implementing real-time payment processing, leveraging its global presence to facilitate efficient cross-border transactions, with successful launches in countries like India, the UK, and Thailand.

  • Citi Welcomes Nomura’s Senior MD as New Co-Head of Investment Banking in Japan

    Citi Welcomes Nomura’s Senior MD as New Co-Head of Investment Banking in Japan

    Citi has tapped Akira Kiyota and Taiji Nagasaka as co-heads of investment banking for Japan, an appointment that took effect on October 1, 2025. This strategic move signals Citi’s commitment to bolstering its operations in one of Asia’s most significant financial markets.

    Bringing Extensive Experience to the Table

    Kiyota joins the ranks of Citi after an impressive tenure at Nomura, where he served as a senior managing director and global head of mergers and acquisitions since 2022. With over three decades of experience in investment banking, Kiyota specializes in mergers and acquisitions as well as in healthcare and consumer coverage, providing valuable insights to clients globally. His prior roles include stints at J.P. Morgan Securities and Sanwa Bank, solidifying his reputation as a heavyweight in the industry.

    Nagasaka’s Deep Roots in the Market

    On the other hand, Nagasaka brings a wealth of knowledge from his current position as managing director and head of Investment Banking products and equity capital markets for Citi in Japan. With over 20 years of experience in advising clients on capital markets transactions and M&A, Nagasaka has been instrumental in navigating the complexities of the Japanese market. He joined Citi in 2022 from Mizuho Securities, where he headed equity capital markets, further sharpening his credentials in an increasingly competitive landscape. It’s safe to say that together, Kiyota and Nagasaka carry enough experience to write a chapter on Japanese investment banking.

    A New Leadership Structure

    The duo will report to Jan Metzger, who oversees investment banking for Japan, Asia North & Australia, as well as Asia South, alongside Robert Nakamura, Citi’s Country Officer and banking head for Japan. This change marks a pivotal moment for Citi as it aligns its leadership structure with its growth ambitions in Asia.

    Expansion of Vice Chair Role

    In a related development, Masuo Fukuda, the vice chair of Citi Japan and head of investment banking, will transition to a new position as Vice Chair for Japan and Asia North investment banking, while also retaining his existing responsibilities. This dual role underscores Citi’s strategy to enhance its leadership footprint in the region.

    Questions & Answers

    What positions have been created at Citi for the investment banking sector in Japan?
    Citi has appointed Akira Kiyota and Taiji Nagasaka as co-heads of investment banking for Japan, effective October 1, 2025.

    What prior experience does Akira Kiyota bring to his new role?
    Kiyota has over 30 years of experience in investment banking, previously serving as global head of mergers and acquisitions at Nomura, and has worked at J.P. Morgan Securities and Sanwa Bank.

    Who will Kiyota and Nagasaka report to in their new roles?
    They will report to Jan Metzger, head of investment banking for Japan, Asia North & Australia, and Robert Nakamura, Citi Country Officer and banking head for Japan.

  • Citi Names Asia Clean Energy Head

    Citi Names Asia Clean Energy Head

    Based in Hong Kong, the newly created role will support the bank’s clients with their transition to cleaner energy.

    Citi has appointed William Pang as head of natural resources and clean energy transition (NRCET) investment banking Asia, effective immediately, the U.S. lender announced in a statement on Tuesday.

    Pang joined Citi in 2015, and has over 18 years of investment banking and legal experience, including at HSBC, Lexicon Partners, Macquarie Group and Clifford Chance.

    In his new role, Pang will work closely with the global leaders of NRCET and the leaders of the relevant sectors – chemicals, energy, power and clean energy transition. He is currently head of power and infrastructure investment banking for Asia, and will concurrently hold this role, the announcement said. He will report regionally to Jan Metzger, Asia Pacific head of banking, capital markets and advisory and globally to NRCET co-heads Stephen Trauber and Sandip Sen.

    In 2019, Citi met its $100 billion environmental finance goal four years early. In April 2021, it announced a $500 billion environmental finance goal and $1 trillion sustainable finance goal, all by 2030. Circular economy and sustainable agriculture and land use are among the new criteria for its $500 billion goal.

    The drive toward low and net-zero carbon solutions will facilitate the formation and growth of many new companies and will require significant capital investment. It will also facilitate the formation and growth of many new companies requiring significant capital investment, Metzger said.

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  • Citi Vietnam Earns Prestigious FinanceAsia Best Corporate Bank 2025 Award!

    Citi Vietnam Earns Prestigious FinanceAsia Best Corporate Bank 2025 Award!

    Citi Vietnam has just snagged a triple crown at the FinanceAsia Awards 2025, earning accolades for being the Best Corporate Bank for Large Corporates & MNCs, the Best Commercial Bank for SMEs, and the Best Sustainable Bank. These prestigious recognitions were revealed on June 17 in Hong Kong, shining a spotlight on the bank’s remarkable performance in the region.

    A New Era of Corporate Finance

    In 2024, Citi’s Corporate Banking team orchestrated a significant financing package amounting to $521.5 million for PV Power’s Nhon Trach 3 and 4 LNG power projects. This landmark transaction stands as the largest corporate financing for a state-owned enterprise in Vietnam, all achieved without the backing of a Ministry of Finance guarantee. Better yet, it features the longest tenor and the most cost-effective terms, innovatively structured through a hybrid approach.

    Empowering Mid-Sized Enterprises

    Citi’s Commercial Bank has been instrumental in supporting mid-sized firms, exemplified by its role in facilitating essential working capital and social finance for an Indian coffee processing company. This initiative allows the company to source beans directly from farmers, enhancing community engagement and support.

    Likewise, Citi has designed a green trade finance facility for a leading manufacturer in the recycled wastepaper sector, reinforcing the company’s dedication to sustainable practices.

    Global Reach, Local Expertise

    Highlighted by Pham Huu Hai, Citi Vietnam’s Corporate Banking Head and Hanoi Branch Director, the bank’s robust presence in 94 markets and service to clients across over 180 countries sets it apart in the competitive banking landscape. “No other bank matches our global reach,” he affirms.

    He adds, “Our extensive local knowledge, paired with our global product platform and structuring expertise, empowers us to assist international clients investing in Vietnam, while also providing innovative solutions for Vietnamese clients seeking access to global capital markets. We are grateful for FinanceAsia’s acknowledgment of our team’s hard work.”

    In a world where challenges are evolving, Citi Vietnam seems to have found a winning formula. Who knows, maybe they’ll take their talents to the coffee cup next!

    Questions & Answers

    What awards did Citi Vietnam receive at the FinanceAsia Awards 2025?
    Citi Vietnam was named the Best Corporate Bank for Large Corporates & MNCs, Best Commercial Bank for SMEs, and Best Sustainable Bank.

    What notable financing deal did Citi arrange in 2024?
    Citi facilitated a $521.5 million financing package for PV Power’s Nhon Trach 3 and 4 LNG power projects, marking a significant achievement for state-owned enterprises in Vietnam.

    How does Citi Vietnam support local businesses?
    Citi provides tailored financial solutions to mid-sized firms, including working capital for an Indian coffee processing company and a green trade finance facility for a recycled wastepaper manufacturer.

  • Citi organizes Vietnam Digital Leaders Summit 2023

    Citi organizes Vietnam Digital Leaders Summit 2023

    Citi brought together about 100 leaders in the Vietnam technology landscape, including founders, management teams, and investors, to discuss how the new economy is shaping the future of Vietnam.

    The Vietnam Digital Leaders Summit 2023, hosted by Citi Commercial Bank (CCB) and Citi’s Investment Bank, featured keynote speeches and lively panel discussions covering various topics, from scale-up journeys and macroeconomic challenges to fundraising strategies.

    Speakers and panels also touched on investor perspectives on opportunities in Vietnam and stories on the strategic shift in focus from exponential growth to sustainable profitability. Many speakers addressed the opportunities and pitfalls of harnessing AI throughout the day.

    Shervone Saw, CCB’s Asia Digital Head, highlighted that Citi established its technology industry vertical eight years ago to support the startup ecosystem. The unit supports technology startups from infancy to maturity, offering customized solutions for every step of the journey.

    Citi’s global network powers companies as they expand into new geographies. Citi is a pioneer in the technology industry in Vietnam, witnessing the rapid rise of companies to the unicorn stage.

    At the event, James Perry, APAC Co-Head of TMT Investment Banking, showed that in 2023, private investment into technology companies in Southeast Asia is on track to surpass pre-Covid levels, despite substantial declines from the peak levels in 2021.

    “We understand the importance of having a structured and dedicated approach to support the demands of fast-growing tech firms, particularly in a low-growth and volatile macro-environment. Our goal is to work with clients to form a winning strategy, to achieve new milestones, and to help them deliver their strategic objectives,” said Lin Hsiu-Yi, ASEAN & Singapore Head of Citi Commercial Bank.

    In Vietnam, Citi has supported and served clients for nearly three decades, helping them navigate the opportunities and challenges of rapid growth and international expansion by enabling them to scale faster.

    This flagship event served as a platform for engagement, connection, and exploration of new growth opportunities for clients, investors, industry veterans, and the Citi team.

    “Whether clients are considering expansion, exploring partnerships, or seeking strategic financing, our dedicated team is ready to support their needs and enable their businesses to get into the next phase of growth,” said Ramachandran A.S., Vietnam Citi Country Officer.

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  • Citi Launches Institutional Token Services

    Citi Launches Institutional Token Services

    Citi aims to offer token services in the form of digital coins, to improve its cash management and trade finance operations.

    According to an emailed statement, Citi Treasury and Trade Solutions (TTS) has launched the creation and pilot of Citi Token Services. The US lender will offer tokenized deposits – effectively transferable digital coins that act as claims against the bank – to support institutional clients’ cash management and trade finance needs.

    The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-generation transaction banking services to our institutional clients, said global head of services Shahmir Khaliq.

    Previously, Citi partnered with shipping giant Maersk and an unnamed canal authority to digitize a solution that serves the same purpose as bank guarantees and letters of credit in the trade finance ecosystem.

    We are pleased to have collaborated with Citi in the successful test pilots for the guarantee solution using digitized tokens and smart contracts. The innovative solution has promising applications for trade finance, said Marie-Laure Martin, regional treasury manager for the Americas at Maersk.

  • Citi wins award for bank of the year in Asia Pacific

    Citi wins award for bank of the year in Asia Pacific

    Citibank has been honored as “Bank of the Year” in the Asia Pacific at the 2022 International Financing Review Asia Awards.

    The award was based on a unanimous decision by the editors of IFR Asia, a leading regional capital markets magazine.

    The recognition from IFR Asia reaffirms the expertise and solution-driven approach of Citi’s capital markets and advisory teams in developing and executing complex transactions for clients in an ever-changing and challenging macro-environment.

    “Citi’s pan- Asian footprint and diverse sector coverage made it a bastion of stability, while its commercial bank enabled it to give issuers more options in rapidly changing market conditions,” IFR Asia concluded in an editorial write up accompanying the award win.

    “This win is a recognition of the strength of Citi’s franchise, the competitive advantage of our global network and the passion and energy of our teams,” Jan Metzger, head of Asia Pacific banking, capital markets and advisory at Citi, said.

    In Vietnam, the bank recently won the 2023 Golden Dragon Award for its role as an outstanding foreign enterprise promoting green investment, digital transformation and sustainable development.

    Ramachandran A.S., Vietnam Citi Country Officer, said: “We have been financing and facilitating a wide array of climate solutions, from renewable energy and clean technology to carbon credits, to help accelerate the country’s transition to a low-carbon economy.

    “Our strategy in Vietnam is to continue doing what we do best: corporate and institutional banking for large companies and financial institutions with cross – border needs, and simultaneously supporting Vietnam’s ambitions to build a more sustainable future.”

  • Citigroup on the Migratory Patterns of the Rich

    Citigroup on the Migratory Patterns of the Rich

    Switzerland has always been a magnet for the super-wealthy. In the last two years, more families and their wealth have moved to the country. Citigroup’s General Market Manager for Switzerland said who has been coming over and why.

    Having worked in several locations in Citigroup’s private banking over the past twenty years, Laurence Mandrile has kept a close eye on the migratory patterns of the world’s rich.

    After having lived here previously, her return to the country was well-timed. Mandrile started her role overseeing Citigroup’s Swiss private bank in the summer of 2019, a few months before the pandemic set many of the wealthy and their assets in motion.

    Since joining the Geneva office, she has observed an increasing demand for ultra-high net worth families to be serviced from Switzerland for safety reasons, especially post-corona, with its education, health care, and countryside also playing into the nation’s hands.

    This new money flows into Citigroup’s Swiss onshore business dedicated to Swiss nationals and residents with a minimum net worth of 25 million francs and family offices from its Geneva and Zurich branches.

    Family offices play an important role in Citigroup’s worldwide private banking operations. The bank regularly brings the members of its 1,500-strong family office network together to exchange expertise on topics, such as how to engage with the next generations ahead of the great wealth transfer.

    Along with centers in London, Jersey, and Luxembourg, the Swiss booking center falls under Citigroup’s EMEA umbrella, accounting for 20 percent of assets booked in the region.

    Although Brexit coming into force at the start of 2020 made it harder for UK citizens to get a Swiss passport, it didn’t stop some of the bank’s super-wealthy clients from heading to the alpine country. This year’s political instability and high inflation on the island have only added to the trend.

    The US bank’s Swiss booking center also serves clients in the Middle East, a region Mandrile sees as a big opportunity, given the current price of oil and the energy crisis, all boosting its economic growth.

    Clients are attracted to the US bank, not only because its wallet share in the region is growing, but because its Swiss booking center «remains the destination of choice for the Middle East, Mandrile said.

    The Swiss booking center is also a draw for Chinese clients, who make up a large part of the wealth coming from Asia over the past two years. Among them are some who have close ties to the United Arab Emirates. These clients might choose to relocate to Dubai or Abu Dhabi, while their wealth is managed from Geneva, she said.

    Overall, Switzerland stands out as being particularly business-friendly, which is also partly why US families have continued to come over the past few years, she added.

    After COVID, many individuals who had installed themselves or their family offices in Switzerland were ready to invest, but then the war came, keeping clients on the sidelines.

    It is only in the past few months that we’ve seen clients come back to trading, Mandrile said.

    Reflecting the uncertain and evolving dynamics of the last 12 months, the bank had to shift the way we invest several times, she added while advising clients to remain invested for the core of their wealth and increase the quality of their investments.

    During this time, for European investors, the best hedge has been in US dollar, which has shown a 10 percent positive performance just by holding the currency, while safe-haven instruments, like investment grade income, have not worked, she said.

    Citigroup is now focused on reviewing clients’ asset allocation while taking a close look at yields, which are making a comeback in fixed income. Moreover, Mandrile has observed certain clients moving to commodities, particularly energy, and illiquid markets.

    A recent Citigroup study on the segment showed family offices hold over 35 percent of their invested assets in illiquid markets, via direct investments, real estate, and private equity funds. Within alternative investments, Citigroup has the advantage of being able to offer its clients direct private equity investments in US and global deals.

    However, one area the Swiss competition does not need to worry about is the retail sector. The US bank, which prefers «to lead where it can have a competitive edge,» doesn’t have a retail presence in the country, she said.

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  • Citi Shutting Consumer and Commercial Units in Russia

    Citi Shutting Consumer and Commercial Units in Russia

    After failing to find buyers, Citi has decided to close its consumer and commercial banking businesses in Russia.

    Citi will shut down its Russian consumer and commercial banking businesses starting this quarter, it said in a statement Thursday. The closure will result in about $170 million in charges over the next 18 months and affect 2,300 out of 3,000 employees across 15 branches in the country. Deposit accounts, investments, loans and cards will also be affected.

    The decision follows failed attempts to find a buyer for either business amid an ongoing Russia-Ukraine conflict.

    We have explored multiple strategic options to sell these businesses over the past several months, said Titi Cole, Citi’s chief executive of legacy franchises. It’s clear that the wind-down path makes the most sense given the many complicating factors in the environment.

    The bank’s Russian exposure totaled $8.4 billion as of the end of the second quarter, down from $9.8 billion compared to end-2021, with around $1 billion linked to the consumer and commercial banking businesses, it said.

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  • Citi Posts Strong Institutional Business Growth in Taiwan

    Citi Posts Strong Institutional Business Growth in Taiwan

    Citi’s institutional business in Taiwan saw a significant acceleration in 2021 with numerous transactions across industries including technology, consumer, renewables, and financial services.

    Citi’s Taiwanese institutional clients have been ramping up their efforts to take advantage of the growth environment in areas such as supply chain diversification.

    Taiwan is home to many world-class companies and we are committed to supporting their ambitions, according to a statement citing Christie Chang, head of banking, capital markets, and advisory for Citi Taiwan and chair of APAC corporate banking.

    Within mergers and acquisitions, the American lender advised on five Taiwan-related deals in recent years, including three in 2021.

    The deals this year spanned across businesses related to semiconductor assembly and testing, renewable energy and retail food.

    Citi has also supported billions of dollars in fundraising for Taiwan corporates across local and global capital markets.

    Within equity capital markets, the bank supported fundraising that totaled nearly $1.5 billion in 2021 across businesses linked to financial services, semiconductors, and other electronics manufacturing. And within debt capital markets, it helped raise $8 billion, also for manufacturing-related businesses.

    According to Citi, some of its largest growth inflows this year originated from trade corridors involving Taiwan with a nearly 50 percent increase in Taiwan-to-India flows and around a 20 percent increase in Taiwan-to-ASEAN flows.

    The bank has also observed strong inbound flows into Taiwan, most notably from companies in Australia, India and Japan.

    There is a massive transformation happening across all industries and with a global network this has helped sharpen Citi’s dialogue with clients in Taiwan as they increasingly want a regional and global perspective, Chang added.

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  • Watchdog Greenlights NAB’s Citi Acquisition in Australia

    Watchdog Greenlights NAB’s Citi Acquisition in Australia

    The acquisition «would not substantially lessen competition,» the Australian Competition and Consumer Commission (ACCC) said on Thursday.

    The competition watchdog in Australia will not oppose the proposed acquisition of Citigroup Australia’s consumer business by National Australia Bank.

    Its review focused on competition in the supply of credit cards, as Citi is a substantial provider of credit cards and credit card services. ACCC also focused on was the provision of «white label» credit card services, as following the acquisition, NAB will be the dominant white label credit card supplier to a number of commercial partners, and will compete with those partners in the consumer-facing credit card market.

    Evidence showed that the proposed acquisition was unlikely to raise competition concerns in any other areas of overlap, given Citi’s minimal market share in these markets, ACCC said in a statement.

    NAB, Australia’s second-biggest bank, said in August it would buy Citigroup Australia in a deal valued at around A$1.2 billion ($880 million).

    The U.S. bank is preparing to exit the region in the face of strong challenges to the old credit card business model from buy-now, pay-later companies.

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  • Citi Hires for New Digital Assets Unit

    Citi Hires for New Digital Assets Unit

    Talent hired to work on Citi’s crypto division will be based in Singapore, in addition to London, New York, and Tel Aviv.

    Citi has appointed Puneet Singhvi to the bank’s ICG Business Development team on 1 December as the ICG head of digital assets, reporting to Emily Turner, head of business development, with a matrix reporting line to Stuart Riley, global head of ICG, according to an internal memo seen.

    Singhvi joins the team from global markets, where he was most recently the head of the blockchain and digital assets. He has also led teams across sales, business development, and product in global markets and securities services and treasury and trade solutions (TTS).

    Shobhit Maini and Vasant Viswanathan will be co-heads of Blockchain and Digital Assets for Global Markets, reporting to Biswarup Chatterjee with a matrix report to Singhvi. The TTS Head of Digital Assets and the Securities Services Digital Asset lead will also matrix report to Singhvi, the memo said.

    The bank will also add approximately 100 roles across its Institutional Clients Group (ICG) and associated functions to bolster its expertise in blockchain, including digital assets and digital currencies.

    Citi said the locations in which it is hiring for the digital assets team is strategic for its ICG business and technology, and represent talent hubs for blockchain and digital asset expertise.

    We are focused on assessing the needs of our clients in the digital asset space; prior to offering any products and services, we are studying these markets, as well as the evolving regulatory landscape and associated risks in order to meet our own regulatory frameworks and supervisory expectations.

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  • Citi Adds Prime Brokerage Duo in Hong Kong

    Citi Adds Prime Brokerage Duo in Hong Kong

    Citi has hired two new directors from BNP Paribas and Goldman Sachs for its prime brokerage unit in Hong Kong.

    Drew Kuech and Oliver Law join Citi as directors of the prime services sales trading team, according to a statement, reporting to APAC head of prime services sales trading Daniel Millwood.

    Kuech has 13 years of prime finance and delta one experience, most recently with BNP Paribas. Previously, he also worked for Societe Generale and Santa Fe-headquartered hedge fund Thornburg Investment Management.

    Law has 14 years of APAC prime finance and delta one experience and he joins from Goldman Sachs. Previously, he also worked for RBS and Credit Suisse.

    We are pleased to welcome two strong additions to our Prime Services trading team as we continue to focus on building out our hedge fund trading and client servicing areas, Millwood said in the statement.

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  • Citi’s Victor Alexiev to Take on New Global Role

    Citi’s Victor Alexiev to Take on New Global Role

    He will lead a global team of former entrepreneurs, innovation strategists, product managers and venture builders to accelerate the development of new solutions at Citi’s internal incubation program.

    Citi has announced the appointment of Singapore-based Victor Alexiev as head of D10X for its Institutional Clients Group (ICG), effective immediately, the firm announced on Friday.

    Alexiev joined Citi in 2018 as the Asia head of D10X, which was launched in 2016 under Citi Ventures, and is focused on the exploration of new strategic opportunities for growth and value creation for the bank. His initial remit was focused on Citi’s markets and securities services business and in 2020, it was expanded to include all of Citi Ventures’ ICG-relevant programs and strategic partnerships across Asia.

    He will relocate next summer for the new role, which reports to Valla Vakili, global head of venture innovation for Citi Ventures. He will also have a matrix reporting line to Gulru Atak, managing director, ICG business development, innovation.

    Under his leadership, the D10X team in Asia has launched three products to market, with a combined obtainable market value of over $500 million, Citi said. One of the projects includes a fully automated securities lending solution for asset aggregators in partnership with fintech Sharegain.

    The D10X team in Asia has also supported industry initiatives such as the development of a blueprint for securities tokenization led by the Asia Securities Industry & Financial Markets Association (ASIFMA), and has also been actively involved in the continuous development of the entrepreneurial ecosystems in Asia.

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  • Citi Names Regaional Co-Heads of BCMA

    Citi Names Regaional Co-Heads of BCMA

    They will replace David Biller, who will be relocating to Europe at the end of the year to take on a broader role as co-head of industrials for EMEA, Asia and Japan.

    Citi has appointed Matthew Nimtz and Jonathan Quek as co-heads of Asean banking, capital markets and advisory (BCMA), effective immediately, according to an internal memo seen.

    Nimtz and Quek are long-time Citi veterans and have worked together in Singapore for the past 10 years, Citi said. Nimtz leads the ASEAN M&A franchise, while Quek is co-head of real estate investment banking, Asia, as well as head of investment banking, Singapore.

    The pair will report to Jan Metzger for BCMA and Amol Gupte for ASEAN.  They will also maintain their existing roles in M&A (reporting to Colin Banfield) and real estate (reporting to Tom Flexner), respectively. Asean corporate banking country heads will report into Nimtz and Quek, in addition to their current reporting lines into Kaleem Rizvi for corporate banking and the respective CCOs, According to an internal memo seen.

    Matt and Jon’s leadership will be instrumental in continuing the strong momentum in the increasingly important Asean market,» Citi said.

    We are running at record levels for capital raising and advisory for clients across Asean. This is a mix of balance sheet strengthening and financing to support growth. There is massive transformation happening across all industries in Asean and with a global network, this has helped sharpen our dialogue with clients as they increasingly want a global perspective,» said the memo.

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