Citi has appointed Nathan Swami as the new Head of Markets for Singapore, succeeding Smith Smithangura following his retirement. The appointment is effective immediately, subject to regulatory approvals, according to an internal memo seen by the publication.
Swami, a veteran of Citi’s trading business with over 17 years at the bank, will take the helm of one of Citi’s largest trading hubs globally. He will continue in his existing role as Head of FX Trading for Asia-Pacific, reflecting Citi’s strategy of strengthening leadership across interconnected platforms in a fast-evolving market landscape.
Singapore plays a pivotal role in Citi’s global Markets business, which spans trading floors in 77 countries and markets. In the first quarter of 2025, Citi’s Markets division reported US$6 billion in revenues—a 12% increase year-on-year—demonstrating the continued momentum across its institutional businesses.
“Nathan is a seasoned leader within our APAC trading franchise and brings deep experience and local expertise to the role,” Citi said in the memo. “Given Singapore’s role as a key trading hub for Citi in the region, we are confident that Nathan will use his experience and leadership to partner across all our products and sales teams to deliver best-in-class solutions to our clients and continue to grow our business.”
Over the course of his tenure, Swami has held several leadership positions within Citi’s trading operations, including Head of FX Options Trading, Head of FX Trading for APAC, and CEO of Citi India Business Services Ltd (CIBSL). Before joining Citi, he worked as an FX Options Trader at Lehman Brothers in London.
His appointment comes at a time when Citi is doubling down on its Asia-Pacific footprint, with Singapore remaining central to its growth strategy and capital markets operations.
