Citigroup Plans to Hire 100 Digital Asset Roles

The world’s leading financial services provider Citigroup plans to add 100 new roles related to digital assets under its institutional division, which came as a part of its effort to help support the company's digital asset capabilities.

In addition, the financial giant will appoint Puneet Singhvi, who has previously worked on blockchain technologies and crypto assets for the global markets team at Citi, to lead its Institutional Clients’ Group (ICG) in the digital asset space.

Singhvi will build the company’s new crypto team and outline a distinct strategy on where and how institutional investors should pursue opportunities including new products, clients and investments.

“We are focused on assessing the needs of our clients in the digital asset space,”the company stated.” 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.”

“We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fractionalization, programmability and transparency,”an internal memo sent by Emily Turner, the Head of Citi Business Development said.“Puneet and the team will focus on engaging with key internal and external stakeholders, including clients, startups and regulators.”

Last quarter, Citigroup registered a net income of $6.2 billion, compared to $1.1 billion from a year earlier. Revenues came in at $17.5 billion, showing a 12% YoY decrease.