Citi has announced the appointment of Nathan Swami as the new Head of Markets for Singapore, succeeding Smith Smithangura, who is retiring after more than 30 years in the banking industry. Swami, who will continue his role as Head of FX Trading for Asia-Pacific (APAC), brings over 17 years of experience with Citi in Singapore to his new position.
Singapore is a significant hub for Citi’s Markets business, which operates trading floors in 77 countries. The bank’s Markets division reported revenues of $6 billion for the first quarter of 2025, marking a 12% increase from the previous year. Swami’s appointment is seen as a strategic move to leverage his extensive experience and leadership skills to further strengthen Citi’s presence in the region.
Swami has held various leadership roles within Citi, including Head of FX Options Trading and CEO of CIBSL. Before joining Citi, he worked as an FX Options Trader at Lehman Brothers in London. His deep understanding of the market and proven track record make him well-suited to lead Citi’s Singapore operations.
Sue Lee and Tibor Pandi, in a joint statement, expressed confidence in Swami’s ability to deliver top-tier solutions to clients and drive business growth. They also extended their gratitude to Smithangura for his invaluable contributions to Citi over the years.
Swami’s appointment is effective immediately, pending regulatory approvals, and he is expected to continue fostering collaboration across Citi’s products and sales teams.
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