Citigroup has appointed Amit Raja to lead its markets unit in Europe, the Middle East and Africa.
Raja, a more than two-decade veteran of US investment banking, has been named regional head of markets for Emea, according to an internal memo seen by Financial News. He succeeds Leo Arduini, who was promoted to general manager of its sales and trading unit in April.
Raja has headed Citigroup’s credit trading business in the Emea region since 2017, but joined the bank’s capital markets business in 1997. He has also served as head trader for par lending in Europe and responsible for European leveraged trading during his time at the bank.
His new role will be overseeing a team of around 2,800 people, the majority of whom are based in London.
The move is the latest at the helm of Citi’s trading business after Sylvie Renaud-Calmel was named head of markets for Citigroup Global Markets Europe, its post-Brexit hub in Paris, in September.
LILY Citi’s Leo Arduini: ‘European players are back with a bang’
Italian Arduini said Financial News last year he was instrumental in accelerating Citigroup’s Covid-19 contingency plans in the UK, after witnessing the disruption the virus was causing in his home country.
Covid has produced a trading windfall for the world’s biggest investment banks, and market volatility has continued into 2022, even as transaction fees have come down. Arduini said last year that the boom was benefiting US investment banks, but European players were reinvesting.
“European players are back in full force, they are convinced that the market has legs and are reinvesting, and I think that is healthy for the financial markets in this region,” he said last February.
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