Citi Group publicized it had appointed Puneet Singhvi to lead the digital assets division of its Institutional Clients Group
Citi is also hiring 100 additional personnel to for its digital assets division. The decision indicates a concentrated effort to increase 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.
Citi is not the only major U.S. bank hiring crypto talent as Bank of America pursued a specialist on Ripple in October. Additionally, according to reports financial institutions have increased crypto hires by 40% in the first half of 2021, and they are attracting this netech talent by increasing pay packages by as much as 50%.
In addition to Citi, other major banks seeking crypto talent include JPMorgan Chase, BNY Mellon, Deutsche Bank, Wells Fargo, Goldman Sachs, Morgan Stanley, Capital One, UBS, Credit Suisse, and Barclays.
