Singapore – Citi has appointed Galvin Phua as Head of Markets Solutions for Citi Commercial Bank (CCB) clients across Asia North and Asia South, effective immediately. Based in Singapore, Phua will oversee the delivery of Citi’s Markets capabilities to commercial banking clients in the region.
The move follows a strong quarter for Citi’s Markets business. In its second quarter 2025 results, the unit reported its best performance since 2020, with revenues reaching US$5.9 billion, up 16% year-on-year, and net income of US$1.7 billion, up 20% year-on-year. The results were driven by robust activity in Fixed Income and Equities.
Gunjan Kalra, Head of Commercial Banking for JANA and Asia South at Citi, said the appointment reflects the bank’s strategy to integrate its global Markets platform with commercial banking clients:
“Citi’s commercial bank offers clients access to Citi’s global network and a broad range of products and solutions, including Markets-related offerings. We have a global strategy to ensure close collaboration with the Markets business, supported by designated leaders who work alongside commercial bankers in an advisory-led and product-agnostic approach.”
Kalra added: “We’re pleased that Galvin will take on this role across our Asia clusters, supporting the growth ambitions of our commercial banking clients. As these businesses increasingly tap into Citi’s network, we are well-positioned to support them across areas such as FX, interest rates, and structured products.”
Cecile Gambardella, Head of Sales for Markets in JANA and Asia South, commented:
“Galvin will work closely with our partners to deliver the best of Citi’s platform and capabilities. I am confident he will drive further growth across our Markets franchise.”
