Citi kickstarts recruitment for top job in digital assets unit

Wall Street heavyweight Citigroup is hiring a global head of digital asset risk management, signifying the latest move in a broader strategic push toward crypto services. 

A post on LinkedIn said the role would be “accountable for all matters relating to the risk management of digital asset activities globally and across all Citi business lines.” 

The advert states that due to the “high-profile nature” and “regulatory focus” on digital assets, the successful candidate will have contact with the most senior leaders of business, risk and control functions.

The remit will include evaluating “all digital assets (beyond bitcoin and ether)” before any asset can be used in any initiative firm-wide. 

A spokesperson from the bank told The Block that Citi is “focused on assessing the needs of [its] clients in the digital asset space,” adding that before offering products and services it is studying these markets as well as the regulatory landscape with relation to its business. 

“This role is integral to ensure we have robust risk management capabilities,” they said.

The move fits into the strategy first reported in the Financial Times in May last year, which stated that the bank was looking into providing crypto-related services due to a surge in interest from clients. 

The firm subsequently announced in June a new group, dubbed Digital Assets Group, which it said would sit within its wealth management division, Citi Global Wealth Investments. A memo seen by The Block at the time revealed that the unit would be led by Alex Kriete and Greg Girasole. 

In November, the multinational also said it would hire up to 100 roles to build out its institutional clients group digital asset division.