American multinational investment bank Citi announced it had appointed Puneet Singhvi to lead the digital assets division of its Institutional Clients Group (ICG) starting on Dec. 1.
In addition to appointing Singhvi on Nov. 22, Citi is hiring 100 additional personnel to for its digital assets division. The move indicates a concerted effort to beef up the financial group’s understanding of digital assets. Singhvi was previously the head of blockchain and digital assets in Citi’s trading business
Citi Group is the world’s largest issuer of credit cards, and its ICG serves corporations, financial institutions, and governments around the world.
An emailed statement from Emily Turner, head of business development at the ICG, hinted that the bank is exploring its options in providing digital assets services to its clients.