Citigroup hires 100 employees for crypto department
Puneet Singhvi will become the new director of the digital asset firm in Citigroup institutional client group, according to a memo to Bloomberg News staff. Singhvi was the blockchain and digital asset leader in Citi’s commercial business.
In his new role, Singhvi reports to Emily Turner, the manager who oversees the business of the larger group. Turner explains:
“We believe in the potential of blockchain and digital assets, including the benefits of efficiency, instant processing, sharding, programmability and transparency.”
“Puneet and the team will focus on interacting with key internal and external stakeholders such as customers, startups and regulators,” said Turner. You will provide expertise and strategies for using blockchain and digital assets in a variety of Citi companies including trading, securities services, investment banking, and treasury and commercial solutions.
“We focus on assessing customer needs in the area of digital assets. Before we offer products and services, we thoroughly research the markets, the evolving regulatory landscape and the associated risks in order to meet the regulatory framework and expectations.
In addition, Shobhit Maini and Vasant Viswanathan will become Co-Heads for Blockchain and Digital Assets for Citigroup’s global market business. You will report to Biswarup Chatterjee, the head of innovation for this segment.
Turner emphasized that the digital assets OU’s efforts “are in line with the company’s strategy of researching new technologies, working with partners to develop solutions, and implementing new skills supported by strong governance and controls.”
Citigroup launched its digital assets division in June to provide customers with access to cryptocurrencies. By August, the company had applied to trade Bitcoin futures and was awaiting regulatory approval.
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