Citi Global FX Head Leaving the Bank
(24 August 2022 – United States) Citigroup’s Global Head of Foreign Exchange (FX) Itay Tuchman has announced he is departing the Bank after almost six years in the role and two decades with the group.
London based Tuchman, who previously held several senior positions across regions in Citi's markets division, confirmed he is seeking opportunities outside the firm where it was suggested he may be taking up a digital assets role. Upon his appointment as the Global Head of FX in Q2 2017, Tuchmann departed Sydney, Australia for London in the United Kingdom (UK).
Last week the UK Financial Conduct Authority (FCA) issued a fine of £12,553,800 on Citigroup Global Markets, an indirect subsidiary of Citigroup. The regulator stated that the penalty was for the subsidiary's breach of the Market Abuse Regulation (MAR) trade surveillance requirements relating to the detection of market abuse.
Stuart Staley will replace Tuchman with immediate effect. Staley has also held positions with Citi over two decades, most recently as Head of APAC Markets and Securities Services for over four years. Before joining Citi, he held executive positions at Texas-based energy services company Enron. Separately, Citi recently announced the appointment of Aveline San as CEO of its Hong Kong and Macau businesses.
“Citi, one of the world's 20 largest banks by market cap, has been seeing a surge in interest around cryptocurrencies and we have recently unveiled a digital assets group within the wealth management division” Tuchman commented last year.
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